Bank of America - Better than Wachovia | Glassdoor
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There are newer employer reviews for Bank of America

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"Better than Wachovia"

StarStarStarStarStar
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Senior Software Developer in Charlotte, NC
Current Employee - Senior Software Developer in Charlotte, NC
Recommends
Approves of CEO

Pros

Big company, lots of different experience can be gained.

Cons

Bad ideas too deeply ingrained. Inertia. It is hard to remove "dead wood" employees.

Advice to Management

Be more open to change from the ground level. When organization changes are made, allow enough time for change to happen before shaking things up again.

Other Employee Reviews for Bank of America

  1. "big bank"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in San Francisco, CA
    Former Employee - Analyst in San Francisco, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    BofA runs its commercial bank very effectively. It's a low cost, large economies of scale operation run out of Charlotte. As an enterprise, its fairly impressive. The firm has good footing in many markets and will probably prosper over the long run, albeit it may hurt for a while in these challenging markets.

    Cons

    BofA provides pay and benefits below market. The organization is somewhat stodgy and opaque. People aren't encouraged to challenge the status quo, ask the tough questions, and truly assess the risk and reward of various choices.

    Advice to Management

    Concentrate on what bank of america does great, its consumer bank and credit card business. Cater to the end consumer and quit trying to beef up the investment bank. Analyze risk more carefully, improve quantitative measurement, decrease exposure to complex and incalculable derivatives. Stop relying on the rating agency and outside models. Using the industry norm just gets you to the situation you are in now.


  2. "Bank of America is becoming the Bank of India"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Consultant in Dallas, TX
    Current Employee - IT Consultant in Dallas, TX
    Recommends
    No opinion of CEO

    Pros

    Pay is good, vacation is good, ability to work from home if ok with your management

    Cons

    too many people from India in Technology, they have contracts with TCS and Perot which all hire India consultants which BAC thinks saves them money, too many managers and red tape, the managers all switch after 1-2 years so you get new one. The upper managers put procedures in place that don't make much sense.

    Advice to Management

    trim your management staff instead of cutting the people that are actually doing the work. Keep people from America instead of replacing them with people from india.

There are newer employer reviews for Bank of America
There are newer employer reviews for Bank of America

See Most Recent

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