Employee Review
- Current Employee★★★★★
A Safe, Stable, and Comfortable Career
Jan 9, 2023 - Data AnalystRecommendCEO ApprovalBusiness OutlookPros
Banking is a stable industry without a lot of churn, with high profits and infrequent layoffs. Bank of America treats employees well, with good benefits and pay. It's a typical corporate work environment, where experience varies greatly from team to team based on management styles and available funding, but great teams do exist and are available. Internal movement within the company is encouraged and supported.
Cons
It is possible to end up on a team that is mismanaged or poorly funded and the unofficial corporate policy in these situations is to wait until it's a serious problem before they fix it. This can be tough to escape due to rules around internal mobility (you need to stay in a new role for a certain period of time before moving again) so be careful in choosing who you work for and look for red flags that signal bad management.
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Other Employee Reviews
- Current Employee, more than 3 years★★★★★
Wonderful Place to Work
Mar 30, 2023 - Delivery Lead in New York, NYRecommendCEO ApprovalBusiness OutlookPros
Wonderful employees, great company culture, great focus on wellness & innovative
Cons
Really don’t have any which is why I am still here
- Former Employee, less than 1 year★★★★★
Be prepared to work overtime and be stressed out
Mar 29, 2023 - Relationship BankerRecommendCEO ApprovalBusiness OutlookPros
NONE. If you want to succeed in banking, please go somewhere else. (Advice from someone who worked in another bank before this one, and who regretted leaving it from day one)
Cons
The company has a high turnover rate, and this is why: 1) Management is very strict. They hire bosses, not leaders. They will not care if you have a good idea, since they will follow their own agenda by caring only about customers vs. their own people. 2) They no longer offer incentives with sales, and now the goals are based on what they call "client experience" --- You will find out about some ridiculous rules that come with this. 3) Centers are very short staffed, so they will move you around and expect you to work overtime, including Saturdays. --- (Also, if you're lucky, you'll have a 30 min lunch at a decent time. If not, you will not eat at all) 4) Since they removed the teller position, you'll be handling both teller & banker positions at the same time. --- (While at other banks you get paid for only one position, at BOFA you will get paid around $2 dollars above the average banks in the market, but you will be doing 2 positions at the same time) 5) The benefits are overrated, so don't trust someone who tells you to work here for the "great" benefits. Not worth it
