Bank of America FAQ

Have questions about working at Bank of America? Read answers to frequently asked questions to help you make a choice before applying to a job or accepting a job offer.

Whether it's about compensation and benefits, culture and diversity, or you're curious to know more about the work environment, find out from employees what it's like to work at Bank of America.

All answers shown come directly from Bank of America Reviews and are not edited or altered.

72 English questions out of 72

January 18, 2020

Does Bank of America offer dental insurance?

Pros

Very good Health and Dental benefits and great company paid-vacation time.

Cons

A rather low starting salary for this position.

Very good Health and Dental benefits and great company paid

January 18, 2020

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July 23, 2019

Does Bank of America have a pension plan?

Pros

Good benefits, sick leave and pension, very flexible

Cons

compensation is not always good

Good benefits, sick leave and pension, very flexible

July 23, 2019

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March 31, 2021

Does Bank of America offer life insurance?

Pros

Amazing benefits, great 401K and life insurance

Cons

work life balance, sale push

Amazing benefits, great 401K and life insurance

March 31, 2021

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April 2, 2021

Does Bank of America offer a wellness program?

Pros

Great Culture, Employee's wellbeing is very important, a lot of perks

Cons

The only downside of the company is the salary is not competitive

Great Culture, Employee's wellbeing is very important, a lot of perks

April 2, 2021

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February 13, 2020

Does Bank of America offer malpractice insurance?

Pros

Cheap insurance. Tuition reimbursement that nobody ever uses. Paid sick days

Cons

DO NOT apply for this position if you are a college graduate. I don’t even know why would the job posting asks for college degree. This job can be easily performed without high education as it is basic. Just to give you an insight, this position is no longer what it used to be. When you have your interview they will say that you’ll be a banker with sales goals and that at times when line gets busy, you will have to assist the tellers as well. They will say that when you are at the teller line you are supposed to uncover customers needs and see if you take sales opportunities to fulfill them at your desk. This IS NOT really what the role is at the moment, things are changing and the bank is getting rid of tellers to eventually have them trained so they become relationship bankers. Full time tellers will disappear!!!. They also want to have a single teller eventually or two relationship bankers that can do both jobs. So with that being said, this is basically a full time teller position except you will be given 5 times more tasks and way more responsibilities than the teller position ( called customer service representative which still exists) The tellers are currently paid 20 dollars an hour and they want to pay relationship bankers the same even though you will be doing so much more. Management is based on sales but you can’t barely get sales because full time tellers are going away so that leaves you being a cash handling associate. Having two or more relationship bankers instead of plain tellers is only convenient for the bank and their budget, not for the employee. So if you have a college degree, listen to my advice and take your skills and education somewhere else. This job is basic and no college graduate should be wasting their time being a teller. On the other hand, if your education is high school only and you still decide to apply, I would suggest you negotiate the pay rate and not let managers get away with it. They will try to underpay you and other future candidates if you accept this job for 20 an hour so please do everybody a favor and do not accept less than 24 dollars for this position if you still want to apply. I’m being straight up here when I say you will not only do transactions but also work at the desk when they need you, complete end of day reports, they will ask you to work when you are sick and you’ll do most of the tasks an assistant manager does but underpaid. They don’t want you to have overtime so your hourly rate is what you are getting. They will tell you that you’ll get money from bonuses but that’s unrealistic considering the fact that you have to be a teller most of you shift and so do the other relationship bankers that way none of you will make your goals ( they do this to cut expenses and not pay bonuses) They will rush you and overwork you all the time so take my advice and go to a company that can afford you or if you still want to work here don’t settle for less than 24 hour. Pay increases over the years are minimum to non existent and they won’t even consider you no matter how good you are at your job, you are just an average employee to their eyes, no raise whatsoever.

Advice to Management

Work on your employee retention. Modify your behaviors and recognize the talent and good skills in your employees. Pay them and give them raises to keep them happy which costs you less than training someone new and get them to perform as good as the previous employee.

Cheap insurance.

February 13, 2020

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72 English questions out of 72