Bank of America
3.8 out of 5 stars.
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Bank of America Employee Reviews

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United States29,770 reviews

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3.7Work-Life Balance

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good in products

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handling cash and transaction the correct way follow procedures to follow every transaction management varies by location enjoy working there because of regular customers
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Poor Management

I worked for a company before boa bought them in 2007 and stayed 7 years, too long. I left after multiple managers ran the department into the ground and treated us poorly. 8 out of 9 people on the team left the bank and took ~ 100+ years combined experience with them. Found out I was grossly underpaid when my next employer offered me about 50% more for the same work. I have worked for large companies my entire career and never felt as much a cog in a wheel as I did there.
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Great Benefits

Good team building atmosphere. Strong management support. Bank offers very generous benefit package. Could use better support for some applications which need to be upgraded
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Productive and fun work environment

Pay very well! Enjoyable place to work. Opportunity for growth. They are very good with promotion within. They are also have flexibility when it comes to hours.
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4 stars

What is the best part of working at the company?Meeting people and solving problems What is the most stressful part about working at the company?Not able to keep everyone happy without doubts What is the work environment and culture like at the company?Multicultural Everyone have different background What is a typical day like for you at the company?When all my crew is on time and everyone is satisfied I
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Micro-managed and looked over for promotions

I was at the bank for almost 5 years with great metrics, numbers and performed different segments within the department. I applied to 4 other departments that I was qualified to do....received great praise for my work, but never moved up AND never received a response as to why. Also, new employees received more pay than current employees.

Pros

Good benefits

Cons

Everything else besides benefits
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Great to place to work and grow professionally

Bank of America encourages both professional and personal growth and provides everything you need to be successful. Every level of the management team stays engaged and encourages employee feedback.

Pros

Bank of America offers more to it's employees and community than any other company out there.
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Ok place to work

Better off going to a a competitor for more money or leaving and coming back. They do not pay current employees what the Market is offering. It’s not fair.
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You are a number and they do not care about people, but they pretend to

Compensation changes for the worst time and time again. Constant management changes and I have been here over 10 years. Treat you like a number. Wasn’t this way the first 8 years, now it’s miserable. Senior management completely disconnected. Poorly run operation with lack of support and dramatic compensation changes that only are good for the worst loan officer. If you are a lousy loan officer, this is the place for you. If you are a mediocre to lousy manager, you will excel here. Top producers this is NOT the place for you with the most recent ( November 2022 roll out with changes effective January 1) the commission changes are ridiculous. Only paid quarterly and are lowest you have ever seen for a lending officer. Low salary with quarterly compensation opportunity that is awful. Look elsewhere for a lending job unless you are a very low producer who wants to sit in an office, collect a salary and just put in your 8 hours for low pay and leave. Used to be a great environment, top producers mostly have left, the ones left will be departing with the new comp plan that is designed around bodies to fill spaces, not lending officers that work hard and want to be paid for their work.

Pros

401K match

Cons

Micromanagement, compensation, stress, bad management, morale, lack of support
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Misdirected guidance and leadership

Neutral in company morale and growth. You have to become something you’re not in order to advance. Not at all worth the pay. Hours are decent and the bank holidays are a plus.
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The company is too large to truly be seen

The benefits are excellent in my opinion(healthcare is excellent) and I do like the amount of PTO given, but the company is HUGE, and it’s very difficult to navigate a clear path to success, especially when there are so many others serving in your role. I would say that depending on the region, it will determine your success and visibility.

Pros

Pto, benefits, opportunities for support

Cons

The company is too big, and it’s difficult to get real assistance to advance your career
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5 stars

What is the best part of working at the company?The people What is the most stressful part about working at the company?When not able to get assistance from a supervisor What is the work environment and culture like at the company?Laid back your peers made it better if you had questions we normally ask each other due to having to wait for so long to get an answer in the moc What is a typical day like for you at the company?Typical day is calls are back to back which make the day go by faster , what I didn’t like was having bad reviews with the company make your job harder
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In two years I have had three titles for one position

I have had three titles in two years. No not a promotion or transfer. The bank just randomly decides to change your job title. I was a Financial Center Loan Officer and then a Credit Solutions Advisor and now a Credit Solutions Advisor II. Each time a change happened my responsibilities grew, and the net income dropped. When these changes happen, they trickle these changes to us over months. The comp plan is changed at their digression and has reduced my income dramatically over the past two years. They also docked my quarterly bonus $4000 because on a recorded call I didn't clearly pronounce all the nationalities on the GMI disclosure. This was a first-time error and I lost 6% of my annual income. No warning. My experience as a CSA II is more of a banker loan officer hybrid than a traditional loan officer. The branch I cover is typical of our region. They are almost always a person or two down and I wind up taking what they cannot handle. My typical banker day consists of helping clients with balancing checkbooks, changing PINs on debit cards, check orders and other various tasks. We are told to go through all their transactions to see what other products we can sell them during these meetings. No commissions or bonus paid for this. Just expected and reported. The good is the base is a touch higher than most MLO positions from my experience. The benefits including time off are about on par versus other major banks. However, they separate vacation from sick/personal. The sick personal is use it or lose it. You cannot carry over nor cash out. Basically, you need to use - 
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Great people, not so great upper management

I enjoyed working along a great team. Working with Upper management was not a great experience. Objective was to sell which becomes difficult when tour customers are generally the same people.
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Great experience overall

Met a lot of nice people but after the pandemic a lot of things change, pressure to meet ridiculous goals but compare with other banks the experience it’s way much better
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Excellent leadership and management

Client focused. Excellent leadership. You get to encounter unique challenges and a lot of learnings. Great benefits and fair pay. Career development and advancement.
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Great Workplace with endless opportunity

My time at Bank of America was rewarding and life changing.It was a great company to work for and helped me through career reimbursement. They will help you progress in your career as part of the culture.

Pros

Good culture and cares about employees

Cons

It size makes it hard to know upper management personally
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Key Factors

Your success in this position greatly depends on a few key factors, leadership, foot traffic, and the amount of specialists in the branch. Supporting leadership being paramount above all else.
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Treated as sales generating robot

Management’s only concern is sales and nothing else. No work and life balance at all. Not being treated equally. Forced to work 6 days a week. Rigged compensation.
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Too many hats and not enough pay

I was a FCLO however I was told my position was being eliminated and I could either take the CSA role or find a different job with the bank or elsewhere. I asked what the difference between the roles were and was told very clearly by my manager as well as my managers manager that the only difference was that I would be able to sell retail banking products to my loan customers. That turned out to be a huge lie. I am now required to take walk ins for non-loan service work like balancing check books, setting PIN numbers, account openings and other various products. We are also being pressured to prove we are doing this as well as sell products that are not loan or lending specific.I don't mind helping the bank as it is almost always short staffed however my job as a LO was already a full-time job. I am now being required to do double the work. The compensation also changed hugely. They took away the commissions and added a bonus pay structure that does not pay anywhere near the industry standard. Also, they always find a way to dock your bonus 40-60%. Every call you make is recorded and monitored. If you make a mistake with GMI, Income disclosure or any other errors you lose your bonus. No warnings or mulligans. Immediate loss of significant income. This means not only are you doing two to three jobs, but you are making half what you were before. So in summary they eliminated an entire position, replaced with another position with way more responsibility and pay less than the original position.
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Great People , Good Pay, Mass Layoff

i worked in collections, where i learned a lot, was greatly appreciated, and was consistently hitting bonuses. I didn't care for the work or the hours (1-10pm). We got mass laid off when they closed our location.
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Overall rating

Based on 31,671 reviews

Ratings by category

3.7 out of 5 stars for Work/Life Balance
3.9 out of 5 stars for Compensation/Benefits
3.4 out of 5 stars for Job Security/Advancement
3.4 out of 5 stars for Management
3.6 out of 5 stars for Culture

Ratings from women

3.4
InHerSight Score
3.2Personal Development
3.7Career Opportunities
3.6Family Support
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