Essay on Bank of America Benefits - 1174 Words

Bank of America is the company I elected to discuss their unique benefits package. Bank of America is one of the worlds largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the worlds leading wealth management companies and is a global leader in corporate†¦show more content†¦This means that an associate will have vacation from the first day they become employed with the company instead of having to wait a full year to be elgible with most companies. In addition to vacation time, Bank of Ameri ca provides paid time off work due to an associate’s personal illness or an illness of a spouse/domestic partner, parent, child or child of a spouse or domestic partner. An associate may use up to two of the 10 occasional illness days for personal reasons with his or her manager’s approval. For those of us who are working parents, we have all faced times where our children will fall ill to different types of sickness. With Bank of America associates, they don’t have to use their vacation time nor take unpaid time off. Those 10 days allotted of sick time are available for them to use. Like all other banks, Bank of America recognizes 10 major holidays throughout the year. Bank of America provides these days of paid time off work annually in observance of holidays. Generally, Bank of America observes the Federal Reserve holiday schedule; however, certain business units may observe a different holiday schedule based on business needs, such as the New York Stock Exch ange holiday schedule. For instance, certain areas of the business may be open on some of those bank paid holidays. That means one of two things for the associates: they will receive time and a half for hours worked thatShow MoreRelatedStrategy And Benefits Of Bank Of America Essay964 Words   |  4 PagesBank of America, on the other hand, has spent its time during the post great recession managing its Merrill Lynch purchase. With such a large wealth management force often referred to as the ‘thundering herd’, the Merrill acquisition allows the bank to explore untapped opportunities, as well as making the bank the biggest in the nation bypassing â€Å"JPMorgan Chase Co (JPM.N) and Citigroup Inc (C.N) in size, giving it about $2.7 trillion of assets† (Stempel, 2009). 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