Been with the bank (legacy ML) over 20 years. Feeling totally burnt out and see no end in sight of it getting better. Considering applying outside the bank. For those that left.. where did you go and are you much happier?
11 replies (most recent on top)
Left after 18 yrs…worked out great
Yes I left at 20 yrs and went to BnY what a difference. Fair pay and promotions structure, competent bosses no politics and a genuine can do, technology focused approached. BAML I found became absolutely poisonous leaving was the best decision I ever made .
@OP would not go to BNY - it’s nasty. If you’re 40 and over even worse as the more they pay (salary, 401k contributions, etc) less profitability. Stay away!
All companies su-k just depends how much su-k you want to handle.
Devil you know vs devil you don't, I suppose. Long-time 30+ years BofA and the joy is definitely gone. Hasn't been fun since the dot.com bo-m of the late 90s. Downward spiral of more pressure and more misery and worse-and-worse managers, esp since BTM Fleet & Co took over.
Suggest you think of places you might want to go to and visit THEIR sites here to get a read on their Misery Factor.
In talking to my friends at various institutions (and non-banking companies), the malaise and pressure seem pervasive most everywhere these days.
I just left BofA and the industry. The only thing I miss about what BofA has become is the paycheck. My friends at WF were paid top dollar to hop over, but it's a cluster there so you earn it.
Was a long timer, and left a few years ago for WF. Money is much better but it has to be to entice people to leave stable, functioning operations, and expectations of high standards to come to an antiquated culture with a revolving door of technology leaders.
Which if done right, makes you that much more valuable and easier to lead the new team. That said, BoA is hardly a leader in risk management sometimes. Just depends on the segment you’re in.
It's ugly out there. Smaller institutions are a joke when it comes to credit underwriting and risk management. You get to see the rot up close where at least where you sit now it's probably a few levels away sometimes. Once you work at a big 4 bank, everything else looks like peanuts in comparison. You will be light years ahead of your new peers when it comes to understanding credit, operations, risk controls, etc. because of your training at BOA.
While no job is great (never will be when working for someone other than yourself), I am not a career Bank of American, I came from the outside, and I do regret it. This process is by far the worst of any platform I have ever seen for what it is that I do. I will not miss it when the time comes for me to return to the outside and get back to beating this place in the market I function in, as I was doing for decades prior to.
grass is always green on the other side
Unfortunately anyone who has left and is truly happy in their new role would not be checking this site.