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People new to banking will accelerate their careers up to a VP level very well, as long as they remain focused

Vice President Technology Manager
Current Employee
Has worked at Bank of America for 6 years
April 30, 2017
London, England
3.0
RecommendsPositive OutlookNo CEO Opinion
Pros

Some very skilled people to work with. Excellent working environment!

There are opportunities to participate in philanthropic work and hiring. Sites have a number of facilities like a gym, doctor, dentists, and physio, etc. There is a good focus on wellness and looking after yourself.

Cons

Limited movement if you show your skills. Management acts supportive but is really in it for their own agenda. Life becomes overly political.

Has a tendency to push work offshore but doesn't attract the best talent out there, which puts additional pressure on local resources to deliver whilst dragging the dead weight.

Thought on technology selection has always been something of a "we need one of those" rather than "is this the right choice for the organization?"

Advice to Management

Listen to the concerns of your staff before they get so frustrated they decide to leave.

When money is a concern, but not the primary, throwing money at the problem doesn't solve the issue. Understand that taking resources away from critical projects with critical people will only go some way to drive those critical people away.

Have managers who are prepared to be hands-on. I had a manager that went on virtually every training course the developers went on, but I have yet to see that manager write a single line of code. Rather than waste time and money behind these managers who can manage upwards but are like tyrants to their teams, they should look to promote the talented developers who deliver a clear strategic vision for their projects. Some of whom manage or work on multiple projects and are continuously overlooked for promotions.

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