Bank of America

  www.bankofamerica.com
  www.bankofamerica.com

Bank of America Reviews in Chicago, IL

Updated 22 October, 2014
Updated 22 October, 2014
6,754 Reviews
3.3
6,754 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
2,890 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 402 reviews)

  • They have a program called MyWork which allows you to work from home or from any location (in 218 reviews)


Cons
  • Work-life balance seems to be skewed towards work side more often than not (in 166 reviews)

  • upper management failed to listen to the lower ranks often missing oppertuinitys (in 182 reviews)

More Highlights

173 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Great company to work for

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

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

    Pros

    Career progression, stability, great employer in terms of work/personal life balance.
    Educational expense reimbursement and great health care.

    Cons

    Too huge of a company to know the senior management on first name basis. Too hard to navigate.

    Advice to ManagementAdvice

    keep doing what you are doing. 2 thumbs up.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Intern

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

    I worked at Bank of America as an intern (less than an year)

    Pros

    Very helpful peers and there is constant support. They really guide you throughout the internship well and make sure you are on track to reach your goals

    Cons

    The company is so large and you feel like a number not a person. It was not the most exciting experience of my life.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Good company if you can survive

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

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

    Pros

    - Telecommuting for many roles
    - Good compensation and benefits
    - Work with smart people and do challenging work

    Cons

    - Constant threat of being laid off
    - Long hours
    - Favoritism from management is well known
    - Training used to be common but is now rarely available unless it's something internal.

    Advice to ManagementAdvice

    Get better at estimating the scope of work to avoid the sometimes insane work hours and layoffs. Grow the talent you have instead of looking outside the company.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Great experience, learning more about the banking center operates.

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

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

    Pros

    Engaging with customers about benefits offered to help grow financially

    Cons

    No compensation offered for consistently achieving goals

    Advice to ManagementAdvice

    Pay compensation to Sales & Service Specialist

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    Fast track to a career path with outstanding benefits

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

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

    Pros

    Great benefits, good pay and interesting and diversified work challenges. This is a great job for anyone who wants to move up the ladder and has the credentials and desire to do so. There are a variety of programs you can join that will mentor you to develop your skill sets, as well as providing community outreach in a variety of causes.

    Cons

    Lots of changes - be ready to engage a new environment, task or challenge on a regular basis. Also be ready to put in long hours as deadlines need to be met.

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Deserving of its reputation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Operations Manager in Rolling Meadows, IL (US)
    Former Employee - Operations Manager in Rolling Meadows, IL (US)

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

    Pros

    The company offers great benefits to it's lower level of associates, however as your compensation grows, the health insurance benefits deminish significantly. One is almost better off seeking coverage in the market place. The company promotes it's values incessentantly almost to the point of propaga. However their commitment to customer service is the least I've seen in my 25 years of experience in customer service.

    Cons

    Considerable lack of depth in managerial roles. Leadership is spoken of but in practice there is little knowledge of. Personal growth is almost impossible, this was the only company in which I served 5 years with out a promotion and I worked for much more presdigious, demanding and reputable firms. They restrict a lot. Demand participation in outside events and will even negate your review if you do not play in their reindeer games.

    Advice to ManagementAdvice

    Don't surrond yourself with yes men. Consider real leadership development programs instead of silo mentality. Beware of managers who view their associates as subordinates. The attendance policy is outdated and punative. The Brand deserves exactly what it got except possibly worse. If people only were aware. Seriously the largest contributor to Rick Perry's PAC. That's the guy that wants to shut down agencies whom doesn't know what they do. It speaks volumes.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    the target of banks.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Personal Banker in Highland Park, IL (US)
    Former Employee - Personal Banker in Highland Park, IL (US)

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

    Pros

    the benifits offered such as insurance and dental are top of the line aswell as paid vacation and the oppurtunity for advancent. 2 Weeks training provided and commute to training facility can be written off.

    Cons

    a company that cares very little for its employees and has a general attitude of you dont matter. as an employee you can expect to be driven endlessly, micro managed in 15 minute increments and be given little to no respect. A very repressive environment just do as you are told you dont need to know why ect ect. False systems in place to give the false impression of employee empowerment. Constant criticism (built into manager 'roadmap') lots of terms to soften the reality of things such as 'coaching' which it literally just criticism not necesarily contructive. Policies are in an employee accessible sites but are not always observed and if an employee violates a policy write ups are issued. Mangement however is outside of the rules and do not observe the same rules and policies imposed on there employees.

    Advice to ManagementAdvice

    practise what you preach. Live by the alleged morals and slogans constantly flooding the internal e-ways. Talk is only talk.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    Heading in the right direction

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

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

    Pros

    Flexibility and work from home

    Cons

    Not enough innovation and slow to adapt

    Advice to ManagementAdvice

    Listen to your employees feedback and ideas

    Recommends
    Negative Outlook
    Approves of CEO
  10.  

    Not bad option for bank career

    • 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 an year)

    Pros

    Not bad option to get career in this bank. A lot of branches throwout the city. Comfortable offices. Various customers.

    Cons

    There are some problems with internal procedures. Some of the clients may be rude and unpolite, and you have to smile and patient.

    Neutral Outlook
  11. 1 person found this helpful  

    It Just Keeps Getting Worst

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

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

    Pros

    Here's the thing BofA has been through tough times relatively compared even to other banks. I've been seeing perpetual layoffs since the day I started here. That being said I've survived here over four years and actually been promoted twice. I'm not a person who's been stuck or passed over for promotion, so maybe this will add some clarity to where I'm coming from and my full thoughts of the bank. I've gotten a chance to work on really interesting and difficult technology problems. I've received tons of mentorship and support.

    + Professional atmosphere - none of the "brogrammer" non-sense
    + Mentorship - even if the ship around us is burning down lots of talented folks willing to share their knowledge and advice
    + Dysfunction in technology divisions can be an opportunity to shine and distinguish one's self (also an easy way to get burned out and or become cynical)
    + Work from Home

    Cons

    The bad is really bad at BofA. Career growth can be a mine field. I've had several junior employees come to me about how they get no chance at exposure. Many in the tech divisions are so entirely exhausted from layoffs that they are either actively looking for other jobs or are just going through the motions.

    + Extreme cost cutting. Ever had to wrestle with an executive for $200 to fix production issue (ironically caused cost cutting in server maintenance)?
    + Executive musical chairs. Executive management changes every six months. No direction, confused direction, or misguided direction provided by management during their stints.
    + Work from home / flexible work is being eliminated
    + Career growth is a mine field and is accessible to only the most connected and politically savvy
    + Layoffs are perpetual feature and fear in the tech teams. In my four years, I've personally seen nine large scale layoffs--and that's not hyperbole.
    + Tech team quality has dropped significantly. Sophisticated developers and tech team members are leaving in droves or have already left. The quality of the tech talent left behind post layoffs and attrition is really poor. Lots of unmaintainable, undocumented, no test case, brimming with hacks code bases lying around.
    + Demoralizing environment for big thinking.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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