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So far, I've made a considerably quick climb from contractor to FTE as a VP

Vice President - Technology
Current Employee
Has worked at Bank of America for 2 years
January 29, 2015
Jacksonville, Florida
3.0
RecommendsNeutral Outlook
Pros

Little to no micromanagement, a distributed work environment, flexible work location, average salary, and average benefits.

Cons

Bonuses have plenty of room for growth. Salary could definitely improve when compared to other banks.

Health/medical benefits are inferior to other smaller companies (e.g., Coca-Cola). You'd expect benefits at BoA to be top-notch (e.g., no co-pay, very low deductibles), but that is not the case.

Employee performance reviews allow very little room for feedback from managers. Their only choices are:

  • Employee sucks
  • Employee is OK
  • Employee is awesome

Nothing in between can be reported.

Advice to Management

Re-vamp and overhaul the medical benefits package and bonus criteria to be more aligned to the bank's size and ROI.

Increase options to evaluate employees that would be more indicative of their performance, so as to render clearer criteria for bonuses, salary increases, etc.

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Bank of America Interview Experiences