Bank of America Overview

The Bank of America Corporation is an American multinational investment bank and financial services company based in Charlotte, North Carolina, with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998.
The staff at Bank of America come from unusually diverse demographic backgrounds. The company is 56.0% female and 46.8% ethnic minorities. Bank of America employees are slightly more likely to be members of the Democratic Party than the Republican Party, with 55.1% of employees identifying as members of the Democratic Party. Despite their political differences, employees at Bank of America seem to be happy. The company has great employee retention with staff members usually staying for 3.8 years. The average employee at Bank of America makes $56,114 per year. Pay at Bank of America is significantly lower than some of its highest paying competitors, like Morgan Stanley, Goldman Sachs, and The Bank of New York Mellon, which pay $119,629, $105,030, and $82,840, respectively.
Bank of America is an industry leader with 204,489 employees and an annual revenue of $91.2B that is headquartered in Charlotte, North Carolina.

The Organization’s Mission

We are driving growth - helping to create jobs, develop communities, foster economic mobility and address society's biggest challenges - while managing risk and providing a return to our clients and our shareholders. Because we recognize that we can only be successful when the individuals, companies, communities and employees we serve are able to reach their vision of success.

Perks of Working at Bank of America

Ensuring their employees' needs are met, Bank of America offers them a comprehensive benefits package that includes medical, dental and vision coverage for employees and their eligible family.

Industry

Investment Banking

Revenue

$91.2B

Employees

204,489

Founded in

1874

Headquarters

Charlotte, NC

Website

bankofamerica.com

Organization Type

Public

Is This Your Company?

The Team At Bank of America

Key People
  • Jeff Hedgepath (Manager)
The Inside Scoop
A leader in the banking industry, Bank of America provides financial products and services for their customers and clients throughout the United States. This reputable bank is guided by a common purpose which is to help make financial lives better by connecting clients and communities to the resource they need to be successful.
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The Culture At Bank of America

Information provided by the company
Believes diversity makes us stronger so we can reflect, connect and meet the diverse needs of our clients and employees around the world.. Is committed to building a workplace where every employee is welcomed and given the support and resources to perform their jobs successfully.. Wants to be a great place for people to work and strives to create an environment where all employees have the opportunity to achieve their goals.. Provides continuous training and development opportunities to help employees achieve their career goals, whatever their background or experience.. Is committed to advancing our tools, technology, and ways of working to better serve our clients and their evolving business needs.. Believes in responsible growth and is dedicated to supporting our communities by connecting them to the lending, investing and giving them what they need to remain vibrant and vital.
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Provides continuous learning and developmental opportunities to help people achieve their goals, whatever their background or experience.. Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.. Is committed to advancing our tools, technology, and ways of working.
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Merrill Lynch's financial advisors help clients pursue the life they envision through a one-on-one relationship with an advisor committed to their needs. We believe trust comes from transparency. Our trusted financial advisors are equipped with access to the investment insights of Merrill Lynch coupled with the banking convenience of Bank of America.
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If you are passionate about helping clients reach their goals and interested in a career in investments, consider becoming a Merrill Edge Financial Solutions Advisor. We're looking for the next generation of financial advisors-those with a passion for people and drive to build a business that makes their financial lives better.
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Few things impact people's lives as much as their finances. Make a difference where it counts by joining our industry-leading wealth management team at Bank of America and Merrill Lynch. We're looking for the next generation of financial advisors-those with a passion for people and drive to build a business that makes their financial lives better.
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Bank of America Reviews

Zippia Official Logo

1.0

Zippia UserMarch 2020

1.0

Zippia Official LogoZippia UserMarch 2020

What Do You Like About Working There?

Stable Salary and good benefits Show More

What DON'T You Like About Working There?

Mortgage process is not efficient Show More

What Are Your Favorite Benefits/Perks?

Hours and insurance benefit Show More
Zippia Official Logo

5.0

Zippia UserMarch 2020

5.0

Zippia Official LogoZippia UserMarch 2020

What Do You Like About Working There?

Commitment to excellence, salary, leadership Show More

What DON'T You Like About Working There?

Limited promotion opportunities Show More

What Are Your Favorite Benefits/Perks?

Flexible working opportunities and great bonuses Show More
Zippia Official Logo

4.0

Zippia UserMarch 2020

4.0

Zippia Official LogoZippia UserMarch 2020

What Do You Like About Working There?

I really enjoy my job. I get to assist people on a daily basis about health related issues. I listen to their needs and provide approriate answers for their situation. I also incorporate humor and speak a few words or sentences of the persons native language that I am familiar with. Examples include Gracias for Spanish, Xie Xie for Chinese,Merci for French, Grazie for Italian , and Shukraan for Arabic. All of these words mean thank you! You will be amazed how much these two words mean to a person in their primary language.Its almost like finding a pot of gold from a Leprechaun. It makes them feel good and I in turn feel phenomenal for brightening their day while getting paid! How much fun is that? If I had to give constructive feedback I would say my company could be a tadbit more organized with our IT systems. Computers do have glitches and no company is perfect. We remain transparent and try to fix errors in a timely manner. In my world that is 24 hours or less.I admit my standards maybe a little high. I challenge you to ask yourself do you want exceptional or mediocre service. Lets say it together EXCEPTIONAL! I come to work and do my best so my clients can leave feeling their best. I am always professional. I resolve as many incidents that I can while being productive and spreading joy before our call ends. TOUCHDOWN for everyone involved! Show More

What Are Your Favorite Benefits/Perks?

Volunteering during my work shift. Example the United Way Day of Caring or Donating to the Red Cross Show More
Zippia Official Logo

5.0

Zippia UserMarch 2020

5.0

Zippia Official LogoZippia UserMarch 2020

What Do You Like About Working There?

it give good money Show More

What DON'T You Like About Working There?

i dont like peple Show More

What Are Your Favorite Benefits/Perks?

i like the money they give to me after every week as a bonus Show More
Zippia Official Logo

5.0

Zippia UserFebruary 2020

5.0

Zippia Official LogoZippia UserFebruary 2020

What Do You Like About Working There?

How much I’ve been able to learn Show More

What DON'T You Like About Working There?

Customers are very rude Show More

What Are Your Favorite Benefits/Perks?

Helping people and diffusing issues Show More
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Bank of America Rankings

Bank of America is ranked #76 on the Best Finance Companies to Work For in America list. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity.

Read more about how we rank companies.

Bank of America Salaries

How much does Bank of America pay?
The national average salary for a Bank of America employee in the United States is $56,114 per year. Employees in the top 10 percent can make over $110,000 per year, while employees at the bottom 10 percent earn less than $28,000 per year.
9.2
Salary Score
Average Employee Earnings

Bank of America Salaries By Job Title

While Bank of America employees earn an average yearly salary of $56,114, different roles can command different wages. Some of the job titles with high salaries at Bank of America are Finance Advisor, Consultant Systems Engineer, Java Developer, and Mortgage Underwriter. A typical Finance Advisor salary at Bank of America is $107,585. Other roles at Bank of America include Cashier and Customer Service Representative. A Cashier at Bank of America earns an average yearly salary of $27,141.

Bank of America Careers

On average, employees at Bank of America stay with the company for 3.8 years. Employees most commonly join Bank of America after leaving Wells Fargo. When they leave Bank of America, they most frequently get their next job at Wells Fargo.

Average Length of Employment

Bank of America

3.8 years
Wells Fargo2.8 years
U.S. Bank2.8 years
Top Employers Before Bank of America
Citi10.3 %
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Top Employers After Bank of America
Citi8.5 %
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Bank of America Employment Videos

Bank of America Financial Performance

9.9
Performance Score
We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance.

Revenue

> $1B

Founded in

1874

Organization type

Public

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Bank of America Subsidiaries

Subsidiaries to Bank of America include Fleet Pennsylvania Services, Card Processing Reseller, and BAC Services Company. Employees at the parent company, Bank of America, earn $56,114. In comparison, the salaries at Fleet Pennsylvania Services, Card Processing Reseller, and BAC Services Company are $65,126, $63,884, and $63,837.
Company
Average Salary
Fleet Pennsylvania Services
Fleet Pennsylvania Services
$65,126
$65k
Card Processing Reseller
Card Processing Reseller
$63,884
$64k
BAC Services Company
BAC Services Company
$63,837
$64k
SLP Holdings
SLP Holdings
$62,331
$62k
Williamstown Bank
Williamstown Bank
$61,080
$61k
Orange County National Golf Center and Lodge
Orange County National Golf Center and Lodge
$58,152
$58k
Fleet NJ Community Development
Fleet NJ Community Development
$56,635
$57k
UST
UST
$54,180
$54k
BAL INVESTMENT ADVISORY
BAL INVESTMENT ADVISORY
$53,925
$54k
Countrywide Home Loans
Countrywide Home Loans
$53,079
$53k

Bank of America Competitors

Based on our research, similar companies to Bank of America are Morgan Stanley, Goldman Sachs, and The Bank of New York Mellon. The average salaries at Morgan Stanley rank the highest, with their employees earning an average salary of $119,629 per year. The employees at Goldman Sachs earn an average yearly salary of $105,030 per year, and the salaries at The Bank of New York Mellon average $82,840 per year.

Frequently Asked Questions about Bank of America

When was Bank of America founded?

Bank of America was founded in 1874.

How many Employees does Bank of America have?

Bank of America has 204,489 employees.

How much money does Bank of America make?

Bank of America generates $91.2B in revenue.

What industry is Bank of America in?

Bank of America is in the investment banking industry.

What is Bank of America's mission?

Bank of America's mission statement is "We are driving growth - helping to create jobs, develop communities, foster economic mobility and address society's biggest challenges - while managing risk and providing a return to our clients and our shareholders. Because we recognize that we can only be successful when the individuals, companies, communities and employees we serve are able to reach their vision of success."

What type of company is Bank of America?

Bank of America is a public company.

Who are Bank of America's competitors?

Bank of America competitors include Wells Fargo, JPMorgan Chase, U.S. Bank, Fifth Third Bank, KeyBank, Citizens Financial Group, Citi, Goldman Sachs, The PNC Financial Services Group, Capital One, SunTrust Banks, Countrywide Home Loans, Regions Financial, M&T Bank, The Bank of New York Mellon, First Data, BB&T, American Express, Discover Financial Services, Morgan Stanley.

Who works at Bank of America?

Jeff Hedgepath (Manager)

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You can find out what it is like to work at Bank of America, also known as BANK OF AMERICA CORP, Bank Of America, Bank of America, Bank of America Corporation and bank of america merrill lynch.

Zippia gives an in-depth look into the details of Bank of America, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Bank of America. The employee data is based on information from people who have self-reported their past or current employments at Bank of America. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions, or for the results obtained from the use of this information. The data presented on this page does not represent the view of Bank of America and its employees or that of Zippia.