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Bank of America Reviews

Updated 12 May 2015
203 reviews filtered by
  • Chicago, IL, US Area (US)
  • Any Job Title
3.0
203 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
81 Ratings

203 Employee Reviews

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  1. marginal place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Chicago, IL (US)
    Former Employee - Anonymous Employee in Chicago, IL (US)

    I worked at Bank of America full-time (More than 8 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    they used to pay well, have interesting stretch assignments, and value their employees. if you're lucky, maybe you can still find a team like this at the firm

    Cons

    they are driving down comp for the majority, experience has been devalued, jobs have become bland and boring, the few do a lot and many sit in meetings most of their day. talent and team building is a thing of the past, lack of career path

    Advice to Management

    stop stepping on people to further your careers, learn about organic growth, maybe take some courses on team and talent building, study definition of loyalty

  2. Helpful (1)

    Assistant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Chicago, IL (US)
    Current Employee - Anonymous Employee in Chicago, IL (US)

    I have been working at Bank of America full-time (More than 10 years)

    Recommends
    Recommends

    Pros

    Great hours, awesome manager, location

    Cons

    BofA over-values having a degree for positions that should not require one

  3. Typical large corporate job, if you're in good with the right people your career will go well.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President Credit Derivatives App Support in Chicago, IL (US)
    Former Employee - Assistant Vice President Credit Derivatives App Support in Chicago, IL (US)

    I worked at Bank of America full-time (More than 8 years)

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    Benefits comparable with other companies in the industry. Company large enough where you can make innumerable lateral moves. Moving up the ladder will take great political skills, many late nights, and an iron clad liver because most of the important meetings during untie happened during happy hour.

    Cons

    Like most companies if you're in a support role you're under appreciated until there is disaster that could've been avoided because you were warning them many many months in advance. There is lots of redundancy in roles which leads to constant layoffs, but there is so much churn at the senior management level that it seems as though they will never get to a point where there's not excessive waste this leading to the constant massive layoffs. And for those who may be thinking the layoffs were in response to the housing crisis in my first week at the bank well before the crash two people on the team I was hired to work on wee laid off. Layoffs are as much a part of the culture as the "free checking."

    Advice to Management

    Be honest, be fair, and don't punish people's careers simply because they don't want to go out drinking with you every week.

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  5. Bank Teller

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous in Chicago, IL (US)
    Current Employee - Anonymous in Chicago, IL (US)

    I have been working at Bank of America full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Easy to become rated as one of the best tellers in your market if you understand the computer system for transactions and always try to get referrals.

    Cons

    Some of your numbers are rated as how your whole branch is (like customer service) which can hurt you if everyone is not doing their part.
    You can not be promoted from ANY position until you commit at least 1 year of work at your current position, no matter how well you are doing.
    Most customer complaints are blamed on tellers because you see the customers more than any other position in the bank (watch your back).

    Advice to Management

    Change the career path restrictions and allow someone to be promoted before 1 year if they are doing well and deserve the promotion.

  6. Trade Support Analyst; Officer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Trade Support Analyst in Chicago, IL (US)
    Former Employee - Trade Support Analyst in Chicago, IL (US)

    I worked at Bank of America full-time (More than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I worked in the in the Middle Office of an Investment Bank supporting the Traders and Sales professionals. Was a great job to learn the organization of a trading desk.

    Cons

    Bank of America makes it nearly impossible to transfer later to a sales or trader role so if that is your goal, take another route.

    Advice to Management

    The morale is extremely low with the constant off shoring of US jobs to lower cost locations. Be transparent with workers of the organizations plans to reduce cost.

  7. Good place for work-life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Senior Software Engineer in Chicago, IL (US)
    Current Contractor - Senior Software Engineer in Chicago, IL (US)

    I have been working at Bank of America as a contractor (More than a year)

    Recommends
    Recommends

    Pros

    Warm people to work with.

    Cons

    Things move pretty slowly.

  8. Teller who was pushed to sell

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Professional Teller in Chicago, IL (US)
    Former Employee - Professional Teller in Chicago, IL (US)

    I worked at Bank of America part-time (More than a year)

    Pros

    Friendly coworkers (although sometimes too stressed), and great to see the same faces everyday from different me members of the community. Felt like a family.

    Cons

    We were pushed to sell, sell, sell. Even to people we knew weren't qualified for a credit card or checking account. If someone had just said no last week, we had to ask again...

    Advice to Management

    Trust in your staff, don't push sales down to people who get paid the least, cut back on pay for performance.

  9. Helpful (1)

    Very good work environment to work every one from higher to lower management very helpful.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Chicago, IL (US)
    Current Employee - Business Analyst in Chicago, IL (US)

    I have been working at Bank of America full-time (More than 3 years)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Great team coordination. Everyone work as a team and review each other works so less ambiguities in the work.
    Special perks to higher the morality of an employee.

    Cons

    No job security as bank on its yearly profits and budget approval if its good then better you can save your job.

    Advice to Management

    good management .

  10. Decent experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst in Chicago, IL (US)
    Former Employee - Analyst in Chicago, IL (US)

    I worked at Bank of America full-time (Less than a year)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    -Large organization
    -Decent amount of time off

    Cons

    -Poor communication
    -Disconnect between HR and hiring manager

    Advice to Management

    Invest in young employees out of college or else they will decide to leave, like I did.

  11. Helpful (1)

    Small, friendly, and successful pizza shop

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Server and Sales in Wheeling, IL (US)
    Current Employee - Server and Sales in Wheeling, IL (US)

    I have been working at Bank of America part-time (More than 3 years)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Small company, so you know your voice is heard. The boss means business, but you can tell he really cares about his employees. Fantastic high-school job, and tips are great too.

    Cons

    Sometimes I would find myself eating a few of their delicious slices of pizza a day, and wound up gaining 20 pounds.

    Advice to Management

    Keep on doing what you are doing.


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