Banc of America Securities

  www.bofasecurities.com
  www.bofasecurities.com
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Banc of America Securities Reviews

16 Reviews
3.5
16 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Banc of America Securities President Brian T. Moynihan
Brian T. Moynihan
4 Ratings

Employee Reviews

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  1.  

    Secretive, closed-door management style

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President  in  Dallas, TX (US)
    Former Employee - Assistant Vice President in Dallas, TX (US)

    I worked at Banc of America Securities full-time for more than a year

    Pros

    *Salary and benefit package was generous,better than most other local employers.
    *Plenty of growth opportunity should be available in this large company, though relocation would be required.
    *Convenient location, easy access to major highways.

    Cons

    *Secretive, closed-door management style, apparently from the top down
    *Management team was aloof, usually behind closed doors and rarely acknowledged your presence when they walked through the office.

    Advice to ManagementAdvice

    Share more with your employees

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Bank of America Securities LLC/Merrill Lynch

    Former Employee - Trader  in  New York, NY (US)
    Former Employee - Trader in New York, NY (US)

    I worked at Banc of America Securities full-time for more than 3 years

    Pros

    Excellent derivatives platform and brokerage arm.

    Cons

    Purchase and consolidation with Merrill Lynch.

    Doesn't Recommend
    Neutral Outlook
  3.  

    It was a good entry level position after college, but glad I've moved on.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Analyst
    Current Employee - Financial Analyst

    I have been working at Banc of America Securities

    Pros

    The team leaders were strong and supportive. And the comradeship between the analysts and associates was incredible. Also, I think we had one of the best Quantitative Support teams in the business.

    Cons

    Beyond the individual team leadership, there was practically none. No clear direction for the company or the business units. Senior executives were absent. The company handled the merger with Merrill Lynch incredibly poorly. I still understand there is animosity between the two loyalties.

    Advice to ManagementAdvice

    Try to develop more of a horizontal structure. It's important for the young people (and old people) to see they have support from management and understand the goals of the company.

    No opinion of CEO
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  5.  

    Good Wall St. experience Without Terrible Hours

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Charlotte, NC (US)
    Former Employee - Anonymous Employee in Charlotte, NC (US)

    I worked at Banc of America Securities

    Pros

    BAS gives you the same basic training as any other Investment Bank and deal flow in certain areas is very strong

    Cons

    Not being in NY can be challenging and working within the ever changing org structure can become very frustrating over time

    Advice to ManagementAdvice

    Advice would include better feedback and provide more stable work environment by not constantly re-organizing product areas and promote better communication across geographic regions

    No opinion of CEO
  6.  

    Slow deal flow, lots of hours, but excellent learning curve.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Analyst  in  Houston, TX (US)
    Former Employee - Analyst in Houston, TX (US)

    I worked at Banc of America Securities

    Pros

    BofA had an excellent investment banking analyst training course. The learning curve of an investment banking analyst cannot be beat, although this is true of almost any investment bank. Benefits and bonus seemed fair, given I was toward the top. Although deal flow was slow, the deals I did work on were also extremely educational.

    Cons

    Hours, hours, hours wasted on pitches that were never technically scheduled! Also many hours spent in the office simply because that was what was expected, but did not seem necessary.

    Advice to ManagementAdvice

    I do not mind working hard, but I like to see some results from the effort. I also felt there were definitely times when managers required the analyst to be at the office simply for the sake of being in the office.

    No opinion of CEO
  7.  

    Worked at BofA during the financial turmoil of 2008, as an analyst

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Analyst  in  New York, NY (US)
    Former Employee - Analyst in New York, NY (US)

    I worked at Banc of America Securities

    Pros

    - comparable to other financial institutions in analyst pay and benefits

    Cons

    - hired way too many analysts than were jobs available
    - did not communicate warnings, or information about analyst career oppportunities and where the company was headed (and did not quell negative rumors either)
    - managers were confused and could not lead teams effectively under duress from above issue

    Advice to ManagementAdvice

    - communicate better with MDs

    No opinion of CEO
  8.  

    Your Mileage May Vary

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Tech Analyst  in  New York, NY (US)
    Former Employee - Tech Analyst in New York, NY (US)

    I worked at Banc of America Securities

    Pros

    Some great and talented people work here
    Salary is good

    Cons

    Offices other than the BOAT [Bank of America Tower] are pretty mediocre

    Everything depends on your immediate and one level up manager, if they aren't appreciate of their workers, don't expect any recognition.....at all

    Advice to ManagementAdvice

    Stop bringing in outsiders to run the company, grow talent from within, seriously, you have some really gifted people in mediocre mid management roles, seek them out!

    No opinion of CEO
  9.  

    Top Notch

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Banking Analyst  in  Charlotte, NC (US)
    Former Employee - Investment Banking Analyst in Charlotte, NC (US)

    I worked at Banc of America Securities

    Pros

    * Compensation
    * Colleagues are some of most intelligent in the industry
    * Great place to network for future opportunities
    * Good deal flow
    * Resume builder with experience at a bulge bracket bank

    Cons

    * Tough work/life balance
    * Not a place to work if you thrive on positive feedback
    * Little to no communication with senior management

    Advice to ManagementAdvice

    Thank you for the opportunity and experience.

    Recommends
    Approves of CEO
  10.  

    Ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  New York, NY (US)
    Former Employee - Anonymous Employee in New York, NY (US)

    I worked at Banc of America Securities

    Pros

    One gets the chance to work for a big player in the field as well be in a growing company.

    Cons

    It is a growing company so not so much deals, plus the economy is terrible. Lost of hours so be prepared.

    Advice to ManagementAdvice

    reduce the hours of the employees to make them happy and keep them, or else they leave to do other jobs

    Recommends
    No opinion of CEO
  11.  

    Banc of America Securities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Banking Analyst
    Former Employee - Investment Banking Analyst

    I worked at Banc of America Securities

    Pros

    The Leveraged Finance group provided me with a rigorous and challenging experience. I learned a lot, and made some very good friends (at the analyst and at the associate level). Coming out of the analyst program, I had a solid fundamental understanding of finance and the debt side of the capital markets.

    Cons

    Compared to friends at Morgan Stanley, Wachovia, etc., I had to be VERY secretive when I was exploring new jobs in private equity. My friends at the aforementioned firms did not - in fact, their firms offered WORKSHOPS for PE interviews (including question answering, model workshops, case study workshops, etc.). We had no such thing, and on top of that I felt like I had to be ridiculous shady about interviewing for fear of getting fired (we were mid layoffs). In the end, I however, I could confide in colleagues with whom I was close and it all worked out, but it was pretty disconcerting to have to be so secretive.

    Advice to ManagementAdvice

    Be clearer with employees about plans for the future and changes happening to the group. Also, the review process was flawed - my comments wouldn't necessarily match my "score," and it was absurd when my friends and I would compare our reviews; it was like they literally just changed the name on the review.

    No opinion of CEO

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