Bank of America

Big company, standard Wall Street benefits including 15 days vacation and average medical plans. 401k 5% match and the usual standards.

• Great for a fresh college grad with no credentials, down on their luck and rejected from top-tier banks like JP, MS, or GS. Fill up that empty resume with one or two years of work before applying to one of the many better banks.
• Great for middle-aged employees with families to care for that aren't looking for career growth, and just want to clock their 9-5ers and collect basic paychecks. Can just coast towards retirement without doing much work and having much stress.

• In Equities technology, you get some really garbage projects, doing data warehousing or OATS compliance work, which contributes nothing to career growth and isn't quite marketable to future employers.
• 1% to 5% yearly bonuses in a good year; 0% bonuses otherwise.
• No base adjustments in salary unless you transfer jobs.
• Discrimination from the business side. The business side, strats traders, etc., take all the bonuses and laugh in the face of their Technology teams. Technology folks get no respect and are treated like 4th class citizens in the bank, including being moved out of the main corporate building into a rental office space. Technology is a cost center and receives the lowest budget and worst reputation.
• Turnover among young people (aged <25) is very high, up to 80% last year. Six months after I left, a few applications nearly folded (or merged) because all their young employees also left.

Turnover is high for a reason.

Young people leaving in droves do so for obvious reasons: as if they cannot get promotions or better compensation, they leave for places that do.

But the cycle will continue as the bank will hire cheap grad students, work them for a year or two before they too leave, and restart the cycle.