Women's Job Satisfaction
and equally to men
to other women
Lady Luck Merrill Lynch Financial AdvisorSales
If I think back to before my first day, the interview process, I would tell myself to run for the hills and not take the job. The interview process lasted three months with seven different interviews and the final interview being a panel of three advisors and then finally a one on one with the director of the complex. The whole time they try to convince you to not take the job, and the director flat out told me I was a toss up because of my GPA. Looking back my gut was trying to tell me this was not the right decision. Fast forward five months into the job, I had all of my required licenses (series 7, series 66, life and health insurance). I was feeling ready to start my financial advising practice just like my father had at my age thirty years ago. I was lucky I had him to mentor me through the confusing times, and I was also lucky to have a mentor on my team who saw my potential and was the most encouraging person I have ever met. He was a man. In my experience everything went sour when my male mentor left our team of 10 taking 7 of the teammates to start his own firm. I couldn't hate him for this. I was actually really happy for him and didn't blame him for not taking me. I was not producing any business yet. What happened next ultimately led to my resignation. I was untrained, and told/expected to cold call from 8:00a-7:00p everyday or do whatever I need to do to get business through the door. What they don't tell you at BofA/ML, is that you make your own cold calling lists, you have to learn SalesForce on your own, and then see if you'll sink or swim. Most young advisors catch breaks early on from their family's, however I did not have this advantage. I ended up going on an all male team (there was only one all female team in the complex who did not take on young advisors). Lucky enough for me I heard my new "mentor" say that "young advisors are the best, because they do all the grunt work, never make their quotas because they're set too high by the corporation, and 'we' (the mentors) get 1/2 for not doing anything. Finally when they (young advisor) leaves, we get all the business they brought in." It was a reality check for me. This mentor told Merrill Lynch management that he was going to help grow talent and train young advisors but at the end of the day he only cared about himself. This business is a tough gig. Know what you are getting yourself into. Also, for women, know that most of the women in the office are Client Associates or Secretaries. The women I knew who were Financial Advisors were either anxious and miserable, divorced a few times, or never married. The job took over their lives, they never made it to their kids events, and because it is a male dominated industry, their male counterparts never fully understood these women's roles as mothers. After a few months of realizing what I had gotten myself into, and what I did not want to become, I got myself out. The only way I would ever go back to financial advising, which I enjoyed, is if I joined a small private firm that wasn't as behind the times as ML is. The positives: If you can make it, you can make A LOT of money. Also, Merrill Lynch Global Research is some of the best in the business which is great for their clients. Major con: management has the backs of the high producing financial advisors. Don't expect things to be "fair".
Lady of grace and B.S. Sr Project ManagerGlobal Tech & Ops
I've worked here for 10+ years. There are a lot of successful women who work in my area - including myself to a certain extent. However, there is a ceiling...and only those women with strong male sponsors break thru the ceiling. Cute, young, sassy women have no problem establishing that strong sponsorship but one little misstep seems to be detrimental. Re-orgs are fast and furious - you can be on top of your game one week and the next week you'll be reporting to a peer. I call it the 6-month humiliation factor....about every 6-months your situation will change and you have to suffer the humiliation of some sort of setback. Lay-offs are fast and furious too. A favorite co-worker will be working on your project one day and the next day they just disappear. No one talks about people disappearing. There is a constant fear of being laid off - and it causes this dynamic, I call it the 'looky-looky' dynamic. This is where everyone is walking all over everyone else to prove their worth. "looky-looky what I did - I'm better than Joey and Janey". Introverts have a hard time here. You have to play into the "looky-looky" or you just aren't noticed. Hard work, good work don't mean much - it's all about the politics. So why do I stay? Benefits and flexibility. But that is changing. Bank is eliminating the flexible My Work program and calling everyone back into the office (but there is no real estate or parking available...but that doesn't seem to matter). Bank is also following every other large corporation in scaling back on benefits. 4 weeks of vacation plus 10 bank holidays and 10 'sick' days is still wonderful....I look for it to go away soon too!
Lady Amaze123 IT Engineer
The money isn't worth it, even for a short period of time. Keep looking and get experience at a place that treats you like a human being. It felt and smelled like a corporate level sweatshop. Imagine yourself in a dark windowless room for 9 hours a day, just looking at a computer screen, hoping you're doing the right thing, because there's little to no transparency or direction on projects. You start working on a project, feel like you're getting traction, only to have some Exec pull the rug out from underneath you, so you switch direction and go 100mph at something else instead, and even then you might not be doing the right thing. Not sure? Don't worry your project manager will let you know in front of everyone tomorrow at your morning standup. 1) Boys Club Culture - even the women "played the game" in order to get ahead. It was really sad. No real support from any women in power positions. 2) Visa workers really hurt the work culture because they are just happy to have a job in America, they put up with anything. The visa workers would come in ridiculously early, work late, work weekends unpaid, work in inhumane conditions, get shouted down by managers and still come back with a smile on their face. 3) Zero on-boarding or training to get you oriented, they just throw you in and you have to figure it out. 5) Lack of management support or guidance - you only saw them when things were going wrong. 6) Maternity leave is a bait and switch - they tease you with 3 months paid leave, you have to wait a full working year to even qualify for it, if you're not laid off when they re-do budgets every year.
Crowdsourced Employer Benefits
How do women feel about working at Bank of America Corporation? 41% think they are treated fairly and equally to men. 31% would recommend Bank of America Corporation to other women, and women have a job satisfaction rating of 3.1 out of 5. What are the benefits at Bank of America Corporation? Bank of America Corporation offers 16 weeks of paid maternity leave, 14 weeks of unpaid maternity leave, healthcare, flextime, 401-k matching. These benefits are based on tips anonymously submitted by Bank of America Corporation employees.
https://fairygodboss.com/company-overview/bank-of-america-corporation3.1 stars, based on 49 reviews Company Website