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Employer Quick Look

Bank of America

(Public)  
Banking - Financial Services
10,000 - 25,000 employees  |  
Overview
AdvertisementThroughout Bank of America’s history, we have held one purpose — to help everyone we work with realize their dreams. In fulfilling this purpose, a constant theme in our work has been "opportunity." We create opportunities for customers to buy a home, to attend college, or to retire with security. We create opportunities for businesses to grow. We create opportunities for all of us to build stronger communities in which to live and work. We also create opportunities for our associates to fulfill their personal and professional potential.

In pursuing these opportunities, we are fulfilling our vision for Bank of America. We strive to offer the most convenient banking network for our retail customers coast-to-coast; build our global capital markets platform to better serve our corporate clients; leverage information and market knowledge to innovate for customers and clients; integrate our operations and businesses to create value for customers and shareholders; and deliver the highest standard of service quality to consumers, businesses and institutions of all sizes.

Bank of America provides unmatched convenience in the United States, serving more than 55 million consumer and small business relationships with more than 5,700 retail banking offices, through more than 17,000 ATMs and award-winning online banking with more than 21 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Bank of America and its affiliates recruit and hire qualified candidates without regard to race, religion, color, sex, sexual orientation, age, national origin, ancestry, citizenship, veteran or disability status, or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, and municipal laws. Candidates must possess the right to work in the United States, as it is not the practice of Bank of America to sponsor individuals for work visas.
Culture
We encourage a healthy balance between work and life by offering the following:
  • Flexible work arrangements. Our associates often take advantage of flexible work arrangements such as telecommuting, compressed workweeks, flextime or other options.
  • LifeWorks. A free, confidential resource and consultation service to help alleviate the pressures of managing everyday work, personal and family responsibilities.
  • Employee assistance program (EAP). Provides free, confidential, short-term counseling for problems involving stress, family, mental health and alcohol or other drug abuse.
  • Dependent care programs. Programs designed to help you locate and pay for quality dependent care for children or aging parents.
  • Adoption reimbursement. Helps you pay for an adoption and related expenses.
  • Time off. You'll receive time off on a paid or unpaid basis depending on your need and eligibility.
  • Education initiatives. Includes scholarships, tuition reimbursement and paid volunteer time for school.
  • Team Bank of America. A worldwide organization through which you can develop new skills, volunteer in your community and network with other associates.
Benefits
The Bank of America Core Values The following five values represent what we believe in as individuals and as a team, and how we aspire to interact with our customers, our shareholders our communities and one another. Doing the right thing We have the responsibility to do the right thing for our customers, shareholders, communities and one another. Trusting & teamwork We rely on one another and succeed together. We take collective responsibility for the quality of our customer's experiences. Inclusive meritocracy We care about one another, focus on results and strive to help all associates reach their full potential. We respect and value our differences. Winning We have a passion for achieving results and winning - for our customers, our shareholders, and our communities and our teammates. Leadership We will be decisive leaders at every level, communicating our vision and taking action to help build a better future.
Benefits
We offer one of the most competitive benefits packages in the financial services industry.
  • Performance-based compensation. In addition to strong base compensation, bonuses and incentive programs are important parts of our overall compensation package.
  • Healthcare plans. We offer a variety of medical, dental and vision plans to our associates and their families (including domestic partners). We pay a majority of the cost for associate medical coverage.
  • Insurance plans. Our wide range of insurance plans provides income replacement in the event of a serious injury or death.
  • Reimbursement accounts. Reimbursement accounts help to lower the costs of health care and dependent care by allowing you to plan ahead using pre-tax dollars.
  • Retirement plans. We offer a voluntary 401(k) retirement saving plan and a company-funded pension plan.
  • Discounts on bank products and services. Eligible employees can take advantage of discounts on a wide range of bank services, from checking accounts to credit cards.
  • Home loans. A variety of mortgages are available through Associate Banking.


Additional benefits
Other benefits available to our associates include:
  • Short-term disability
  • Long-term disability
  • Special leaves--bereavement, jury duty, Olympic, foster care and military
  • Matching gifts program
  • Long-term care
  • Home ownership programs
  • Educational partnerships
  • Volunteer grants program
  • Volunteer time program
  • Commuter benefits
  • MetLife Auto & Home Insurance program
  • Rewarding success
Diversity
"Our commitment to diversity is a commitment to individuals and to the team. It's about creating an environment in which all associates can fulfill their potential without artificial barriers, and in which the team is made stronger by the diverse backgrounds, experiences and perspectives of individuals. It's about giving all of us--individually and together--the best possible chance to succeed." -Kenneth D. Lewis, Chairman and Chief Executive Officer, Bank of America

We are proud of Bank of America's legacy as a leader in corporate diversity and in equal employment opportunity. At Bank of America, we work to foster an inclusive corporate culture and an environment free of discrimination or harassment.

As evidence of its commitment to diversity and inclusion, Bank of America:

Organization and Culture
  • Established a 29-member Executive Diversity Advisory Council that sets the direction and guides the implementation for diversity and inclusion at Bank of America.
  • Alvaro de Molina, Bank of America's Chief Financial Officer, is a native Cuban and in 2005 was appointed Chairman of the bank's Diversity Advisory Council.
  • Has dozens of Diversity Business Councils operating in various business lines to address diversity and inclusion issues. In addition, more than 50 Team Bank of America Diversity Networks, consisting of geographically based volunteer teams of associates, encourage and capitalize on the diversity of our associates and promote personal and professional development.
  • Has affinity groups (informal, company-recognized groups of associates with common interests) that meet periodically to network and support one another's development and success.
  • Has women and people of color serving at its highest levels of management.
  • Ensures senior executive management develops annual targets to increase diversity in their businesses and has incentive pay tied to progress in hiring, promoting and retaining people of color.
  • Provides extended family benefits and has equal opportunity policy that includes a nondiscrimination clause based on sexual orientation and gender identity.


Multicultural Marketing and Supplier Diversity
  • Has dedicated a multi-million budget for marketing, advertising, infrastructure and support tools to implement an aggressive multicultural marketing and service strategy and meet the needs of diverse customer segments.


Diversity Recruitment and Educational Commitment
  • Partners with national multicultural professional associates to recruit new talent and develop new business relationships. We are one of the largest corporate sponsors of the National Association of Black Accountants and of national African-American and Hispanic MBA organizations.


Disability Resources and Accessible Banking
  • Has made the largest Talking ATM commitment in the financial services industry. Created for people who are blind or visually impaired, Talking ATMs will be installed at Bank of America ATM locations coast-to-coast.
Awards and Recognition
Our commitment to diversity has been recognized by several sources. We were named:
  • A Best Company for Working Mothers. For 17 consecutive years, Bank of America has been named a best company in Working Mother magazine's annual survey.
  • A Best Company for Diversity. Bank of America has been recognized by DiversityInc as one of the top 50 companies for diversity.
  • Top 100 Companies for Hispanics. For several years, Bank of America has been named one of the top 100 companies for Hispanics by Hispanic Magazine.
  • Best Company for Latinas. In 2005 LATINA Style magazine ranked Bank of America the Best Company for recruitment, retainment and advancement opportunities of Latinas.
  • Top 50 Company for Supplier Diversity. Bank of America was recognized in 2006 by Hispanic Trends magazine as one of the top companies for Multicultural Supplier Development.