Bank of America

www.bankofamerica.com
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Bank of America Reviews in Chicago, IL

Updated 24 February 2015
Updated 24 February 2015
193 Reviews
2.8
193 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
193 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 417 reviews)

  • They have a program called MyWork which allows you to work from home or from any location (in 223 reviews)


Cons
  • Work/life balance was a little tough but you are going to get that anywhere to be honest (in 180 reviews)

  • upper management failed to listen to the lower ranks often missing oppertuinitys (in 184 reviews)

More Highlights

193 Employee Reviews Back to all Reviews

Sort: Popular Rating Date
  1.  

    Good infrastructure and resources, minimal career growth opportunities

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

    I worked at Bank of America full-time (more than 5 years)

    Pros

    - Strong credit training with knowledgeable people
    - Huge infrastructure and balance sheet, which provided competitive advantage compared to other banks

    Cons

    - Extremely flat org structure, needed someone to "die or leave" in order to be promoted
    - Pay was flat, minimal chance for meaningful raises due to public status of company and recent economic crisis

    Neutral Outlook
    Approves of CEO
  2.  

    Not at all what it used to be

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

    I worked at Bank of America full-time (more than 10 years)

    Pros

    Gigantic company with lots of lines of business. I worked from home quite a bit and that worked great for me.

    Cons

    The company is so big that people tend to get lost in the shuffle. Promotions are often not based on performance but rather on how well leadership likes you.

    Advice to ManagementAdvice

    Work on finding out who your best human capital is and how to keep and nurture it.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Good 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

    Pros

    Opportunities for advancement
    Volunteer opportunities
    Decent vacation policy

    Cons

    Can feel a bit overwhelming due to the bank's size
    Constant change, including mergers, which involve massive job cuts
    Employee cost of benefits is astronomical

    Advice to ManagementAdvice

    Improve service anniversary award selection and consider giving time off or gift cards rather than poor selection of a handful of gifts.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Employment Experience

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

    I have been working at Bank of America

    Pros

    Promotes easily from within. Pension and 401k

    Cons

    High sales goals and high turn over rate.

    Advice to ManagementAdvice

    Set realistic goals

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Technical staffing has fallen far in the last decade.

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

    I worked at Bank of America full-time (more than 10 years)

    Pros

    If you are a contractor from India, it's great, but the "of America" is a joke. Those with actual technical skills have either been laid off as too expensive or left because they saw the handwriting on the wall.

    Cons

    Their software development is a sad pale remnant of what it once was - and the remaining technical management are political game players just playing turf wars (most are cast offs from the failed financial institutions that BofA stupidly picked up since 2008). Almost all development has been off-shored to incompetent foreign developers who deliver late and over budget, if at all.

    Advice to ManagementAdvice

    Stop asking employees why they "are proud to work for BofA" - the only affirmative responses you are getting are from those afraid to voice their honest feelings and those with a weak moral compass. Try doing the hard work (rather than surveys), making the morally coutrageous choices (rather than the cost cutting craven ones), and make it a place to actually be proud of!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Outsourced

    Current Contractor - Applications Programmer in Chicago, IL (US)
    Current Contractor - Applications Programmer in Chicago, IL (US)

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

    Pros

    * Good Pay
    * Ability to Work from Home on occasion
    * Great downtown location
    * Co-workers are open to new ideas

    Cons

    * Bank employs a very large number of H-1B's. You will be working with an entire team and treated like a 2nd class citizen
    * Junior developers are hired and put in Senior level positions to architect and develop IT applications resulting in poor quality of code and high maintenance costs.
    * Consultants are hired to train lower-level developers but are not directly assigned working on the architecture and/or developing application. Instead, you are supporting H-1B teams and are given trivial tasks.

    Advice to ManagementAdvice

    Cost cutting should not be at the application architecture level. Hire skilled Senior level developers for architecture instead.

    Doesn't Recommend
  8.  

    teller

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

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

    Pros

    I loved everything about this job.

    Cons

    Maybe not to expect much for high traffic banks such as: 3 credits A DAY!

    Advice to ManagementAdvice

    smile

    Recommends
    Approves of CEO
  9.  

    Size Impedes Performance

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

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

    Pros

    Competitive base salary and benefits.

    Cons

    Employee bonuses are rarely linked to performance.

    Doesn't Recommend
    Negative Outlook
  10.  

    Not as great as I thought

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

    I have been working at Bank of America part-time (less than a year)

    Pros

    I have pretty awesome coworkers. Everyone is really friendly, and close since there are only 5 people working in my branch. The pay is ok it could be better.

    Cons

    The sales goals are nearly impossible to reach due to the fact that Bank of America in General is so short staffed! It's ridiculous! Upper management expects their tellers to refer while there is only one banker. The wait to see a banker is always about an hour. None of the customers want to wait that long for a banker. The teller line is always ridiculously long with only 2 tellers working. And another employee standing in the lobby literally doing nothing but talking to people when they can be helping us. Not getting paid for referrals also sucks! With the amount of staff Bank of America hires it's really really hard to reach sales goals and make customers and management happy. Almost impossible. This job can get really stressful and annoying.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    customer service

    Current Employee - Customer Service Representative in Dolton, IL (US)
    Current Employee - Customer Service Representative in Dolton, IL (US)

    I have been working at Bank of America full-time (more than 5 years)

    Pros

    great company to work for

    Cons

    too many lay offs and long hiring process

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