U need to b able to function under high stress
Even though some of the top Tech Execs are women, Technology & Operations is predominantly a male organization. Middle managers are judged on their ability to deliver on time and on budget, not on their commitment to diversity. Therefore, they rely on the "old boys" network to get a "body" into an open position as fast as possible. My team has over 25 Senior VP's, and only 1 of those is female. Women who advance to Exec levels appear to have made the choice to dedicate themselves to a career (I heard someone refer to an Exec by saying, "Bank of America is her religion") as opposed to women lower in the Org who appear to attempt a balance of work and family.
Face time and immense politics - typical of a Bank but unusually so.
There are corporate policies and initiatives focused on developing women and supporting balanced life for employees.
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!
There are more women then men working for Bank of America
Management is male dominated. You'll find women at the Exec level, but overall, women make up a majority of the support roles. Maternity leave is generous. However, there is an underlying current of fear when considering time off. They are doing away with being able to work from home. Calling everyone back to the cube farms without monetary compensation. Raises have not occurred in years.
1) Consistent and ongoing re-organizations cause a great deal of stress. You do not know from day to day if you will have a job, if your career plans will be thwarted, or if you will be re-assigned to a position that is not a fit. 2) While BAC executive leadership readily and continually re-org and re-assign employees to new roles, it has become very difficult to seek out and secure new opportunities via your own efforts. Many of the candidates that have filled positions were preselected even before the role was posted. Job postings have become nothing more than legal CYA. 3) I have worked for BAC for 17 years. When I first started we were referred to as "colleagues". That changed to "associates" around 2005. It changed to "employees" in 2012. This very deliberate and calculated change speaks volumes about the current culture and is experienced in how we "employees" are regarded/treated.
Negotiate best you can when you get hired because raises barely exist even if you are a top performer and don't keep up with cost of living. I want to believe men and women are treated fairly we have women in senior roles but next levels down seem more like boys clubs when promotions come around. Bonus are usually flat to year prior at best, while they tell you they are on performance I haven't seen it.
Don't expect to get promoted to any sort of management role in technology. It is 90% male dominated. They talk a lot about diversity and inclusion, but fail to put women in leadership. Paid maternity leave is new and offers up to 12 weeks - which would have been nice when I had my child 7 years ago. I had to take FMLA leave (unpaid) and am still resentful about having to go back to work so soon, but at least I still had my job when I got back. My managers are great, but they have very little control over promotions and pay raises.
Free, anonymous reviews of Bank of America Corporation by female employees, including pay, hours, maternity leave, flextime, and company culturehttps://fairygodboss.com/company-reviews/bank-of-america-corporation 3.2 stars, based on 45 reviews Company Website Lady Not4me Lady anon859 Escada Girl Madam boss07 Lady of grace and B.S. Lady Liaa22 Lady anon680 Lady PONB Lady DogMom Lady codegeek