Bank of America Reviews

Former Employee – worked at Bank of America full-time

Pros – help define the credit card market, was initially progressive and innovative. People were accountable for both successes and errors. Motivational environment. Able to mobilise resources quickly and effectively. Both challenging, and exciting

Cons – lost identity after being bought by bank of america. gradually breaking up the portfolios and losing valuable experienced and skilled people.

Advice to Senior Management – decide on direction and business model.

Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

Former Employee – worked at Bank of America

Pros – Heading in the right direction with stron gmanagement

Cons – Too much bureaucracy with people doing limited work getting paid. Not much of a meritocracy.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

Current Employee – been working at Bank of America

Pros – nice and friendly environment , you have the opportunity to work with experienced professionals, a very large platform which allows cross selling

Cons – The structure is very vertical (typical of an american bank), very small junior team vs. a lot of Managing DIrectors

Former Employee – worked at Bank of America full-time for more than a year

Pros – Good financial reward
Big platform to network and acquire knowledge

Cons – Aggressive culture
Minimal possibilities to move between divisions

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Current Employee – been working at Bank of America full-time for more than 7 years

Pros – there are no pros in BOFA

Cons – No Pay, work for free

Advice to Senior Management – Share your wealth,

No, I would not recommend this company to a friend

Former Employee – worked at Bank of America full-time for more than 7 years

Pros – Lots of technology growth and opportunities that come with it

Cons – Too large a bank with overcrowded red tape and internal politics that blocks efficiency and promotes an overly zealous project reporting culture as well as save your arse culture. No focus on individuals.

Advice to Senior Management – Too much onus on getting Goldman style technology rolled out in the bank by getting ex-Goldman staff in the bank is not helpful to the culture of BAML. BAML does not pay like GS did/does and expecting staff to work to same ethics is unhelpful. There is better talent within the company.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

Former Employee – worked at Bank of America part-time for more than 10 years

Pros – solid heirachy structure
pay not too far off market

Cons – Following ML merger there was a lack of morals and integrity towards the staff by middle management
Dog-eat-dog culture

Advice to Senior Management – Respect your team and they will deliver, trust in their knowledge

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Current Employee – been working at Bank of America as an intern for less than a year

Pros – Higher management is very friendly.

Cons – I think there are no Cons. Pleasure to work here.

Advice to Senior Management – Nothing there to give advice.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Former Employee – worked at Bank of America full-time for more than a year

Pros – Ability to get involved in a range of projects as there is little taboo with regards to muscling in on other people's initiatives. Lack of ability to hire externally means that there can be frequent opportunities for internal mobility.

Cons – Strong blame culture. Often teams are operating under significant pressure and fear or reprisals. Middle Office strategy appears to be nebulous and frequently changes. There is very little in the way of town halls / long term strategy communitcation which leads to an over active rumour mill which unsettles staff unneccesarily.

Advice to Senior Management – Root out the management layers that are propagating the fear and blame culture and remove them from the organisation (in particular Equities Middle Office) . Devise a long term Middle Office strategy and stick to it.

No, I would not recommend this company to a friend

Current Employee – been working at Bank of America full-time for more than a year

Pros – Good work environment and good culture

Cons – Little growth opportunities and lack of career advancement.

Advice to Senior Management – Should focus on developing and expanding business operations at a much faster rate.