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.

78 English questions out of 78

November 5, 2020

How do employees feel about flexible spending accounts (FSAs) at Bank of America?

Pros

-Depends on the office you’re in, but I work with some awesome people -Benefits: $1/$1 401k match up to 5%, good insurance, employee discounts on tons of stuff including loans and mortgages, $400/yr FSA contribution from the company, and lots of obscure benefits that you’d never think of -4 weeks of vacation per year, even as a new employee -Great company culture. They really seem to care about their employees. I get this vibe from management all the way up the ladder -Product knowledge required for job is easy to learn -Excellent paternity/maternity leave, 16 weeks paid -Growth potential is virtually unlimited -Diverse possibility of locations to transfer to -If you’re in a job that’s not a good fit, but you’re a competent and responsible employee, they’ll do everything they can to find a better position for you

Cons

-Compensation seems low for this kind of job. And it’s salary+bonus, but there’s no objective financial incentive to meet sales goals because the size of your bonus is at the discretion of your manager. -It’s a big company, so things don’t change quickly when they need to -Have been working from home with Covid, but no flexibility to do so if it weren’t for that -Way too many conference calls and too much nannying, regardless of performance

Advice to Management

Please give us the flexibility to work from home when Covid is over. I think we’ve proven we can work just as effectively. Also, give us some quantitative metrics to meet for different bonus amounts, if not make the job salary+commission!

Benefits: $1/$1 401k match up to 5%, good insurance, employee discounts on tons of stuff including loans and mortgages, $400/yr FSA contribution from the company, and lots of obscure benefits that you’d never think of

November 5, 2020

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April 2, 2019

Does Bank of America offer pet insurance?

Pros

Good benefits such as insurance, vacation and 401k

Cons

Constant turnover at management levels which causes workers to constantly adjust to different management styles. Constant threat of downsizing.

Good benefits such as insurance, vacation and 401k

April 2, 2019

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May 26, 2021

What is health insurance like at Bank of America?

Pros

Opportunities for promotion, $20 minimum wage rising to $25 by 2025. Great benefits 4 months maternity leave, 7% 401k match which rises to 8% after 10 years, good health insurance, child care reimbursement, $7500 in tuition reimbursement per year.

Cons

I can't think of significant issues but it always depends on your team and manager.

Great benefits 4 months maternity leave, 7% 401k match which rises to 8% after 10 years, good health insurance, child care reimbursement, $7500 in tuition reimbursement per year.

May 26, 2021

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May 26, 2021

Does Bank of America offer sponsored degrees?

Pros

Opportunities for promotion, $20 minimum wage rising to $25 by 2025. Great benefits 4 months maternity leave, 7% 401k match which rises to 8% after 10 years, good health insurance, child care reimbursement, $7500 in tuition reimbursement per year.

Cons

I can't think of significant issues but it always depends on your team and manager.

Great benefits 4 months maternity leave, 7% 401k match which rises to 8% after 10 years, good health insurance, child care reimbursement, $7500 in tuition reimbursement per year.

May 26, 2021

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April 27, 2021

Does Bank of America offer vacation time?

Pros

I love being able to help others with their finances and life goals. You have to plan on how to execute your monthly and quarterly goals if you want to be successful at meeting or exceeding those numbers. But once you do, you can receive a $1,500 bonus or plenty more on a quarterly basis. Great benefits such as paid holidays off, 16-24week maternity leave, growth opportunities, tuition reimbursements, 3 weeks vacation a year and plenty of sick time, great health care, 401k matching up to 5%, and just several others.

Cons

I came in with a lot of education on my finances and have learn what I teach my clients from my own life experiences. Wish there was more in depth training to make sure everyone was on the same page with what they teach clients. Your manager you have andbteam will make all the difference in the world on whether you love working their or not. I’ve had some teams I worked with that made me want to leave the bank and others I worked with that make me feel so blessed to have my job. Keep yourself educated and on track for promotional opportunities no one will do it for you.

24week maternity leave, growth opportunities, tuition reimbursements, 3 weeks vacation a year and plenty of sick time, great health care, 401k matching up to 5%, and just several others.

April 27, 2021

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78 English questions out of 78

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