I’m a recently displaced associate from GT&O / Consumer Operations located in the Plano office. To my surprise BofA’s competitors in the market are hiring at fast rates. Less stress + better pay + better leadership = job satisfaction. If you are tired of worrying about your job, dealing with ongoing remediation, and lack of leadership, you should do some looking. I was approached several months ago by a mortgage lender who is ramping up operations to be the new Countrywide. I turned them down at that point. What a regret
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Be very very careful right now switching jobs to another bank... What you may perceive as "strong banks" right now, might not be so strong if we have another pending banking crisis. Here's the issue. $30 oil prices is wreaking havoc on the oil industry. A lot of the oil producing companies borrowed heavily from banks during peak oil prices of $80 to finance a lot of the shale oil industry. A lot of those companies are only profitable if oiled remained at $50-60/barrel. We're at $30 right now. Those companies are going to go under, and we're going to have another loan crisis in the banking industry if oil prices stay as low as they are. Bank of America, fortunately, is one bank that hasn't heavily loaned commercially to such companies (it was too busy cleaning up the mortgage meltdown mess)... Constrast this with Wells Fargo. They are doing "fine" wrto the mortgage meltdown, but because of that, they DID expose themselves to a lot of lending in the oil industry. $70-80/barrel isn't going to come back soon, and that means a lot of lenders are going to be in trouble.
BofA might not be in such a bad shape 3-4 years from now, relative to others.
Also, i don't know if working for another bank that "is going to be the next countrywide" is really a good thing....Things didn't exactly end well for countrywide. And a lot of the loans they wrote were absolute crap and shouldn't ever have been written. Fortunately, we have stricter lending standards now (if it's only for now)