Bank of America FAQ

Pros

Good benefits package employee discount program and family care leave.

Cons

Hybrid or full time in office. no full time remote options available. Raises for top performers rarely keep up with inflation.

Advice to Management

1% raise for the top employee in your team (as told by manager) is a poor way to retain people. Allow for full time remote, make sure compensation actually keeps up with experience level and job title.

Pros

Good pay, pension and benefits

Cons

Middle management are not competent with constant strategy changes being made and poor people management. The company could do with a good clean out of the dead wood.

Advice to Management

Stop with the personal agendas and put together a proper business strategy.

Pros

Generous benefit package, quick to reward title promotions

Cons

Slow to increase salaries, no WFH flexibility,

Pros

-Good benefits: 4 months paid paternity leave, 4 weeks of vacation, tuition reimbursement ($5250 tax free and $1750 taxable for total of $7500 annually), premium healthcare options, stock options, 5% 401k match, 2% annual employer 401k contribution, Preferred Rewards Platinum benefits as employee, paid holiday and sick time, and other benefits.

Cons

- Functional silos. Any cross functionality between departments you will have to proactively engage. Different areas have different metrics/incentives, which can cause conflict if you are trying to improve processes. Ex. Sales motivated by sales metrics (leads, new referrals, new money, # of accounts opened, customer survey scores, etc.). Operations/Compliance motivated by risk mitigation, taking time to perform reviewed (adding to lead times), back and forth on documentation and procedures. - Positions do not list salary pay range. You have to do your due diligence to research and ask people willing to share their salary. And you have to negotiate with HR during hiring process. Annual pay increases are determined based on performance rating given by management during annual review and compensation increases decided by management. Limited room for any negotiation. - Positions that are not client facing and can be done remotely are limited. Company wants employees to work in office, even if not client facing. - Limited funding for process improvement for workflows, resulting in manual processes and mundane work that could be automated.

Advice to Management

- Allow employees the option to choose where to work, the place where they are most productive (in office, work from home, hybrid). - Allocate more funding towards updating systems and workflows to automate the mundane tasks so labor can focus time on more pressing items - Transparency on pay (salary ranges) across departments, teams, and job positions. - Implement compensation metrics that are cross functional (i.e. sales having some operational metrics, and operations have some sales metrics), in order to improve cross functionality of the organization and reduce conflict that arises in these functional areas because of conflicting metrics.

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.