Bank
of America
One of the nation's
largest banks.
Headquarters:
100 North Tryon St.
Charlotte, NC 28255
Employees: 209,000
CEO: Kenneth Lewis
Stock Symbol: BAC
Website:
http://www.bankofamerica.com
Career
Site
Bank of America is one of the world's largest
financial institutions. It serves over 59 million customers including
businesses and individuals.
The company has 6,100 bank locations in
29 states and the District of Columbia. It has over 19,000 ATMs
and 12 million active online users. The company serves clients
in 175 countries. It is the No. 1 Small Business Administration
lender in the U.S. It also operates an investment bank under
Bank of America Securities.
Bank of America generated record revenues
in 2007 with $68.0 billion and net income of $14.98 billion.
The company reported assets of $1.72 trillion
and total deposits of $805.1 million.
The company announced in January it would
cut 650 jobs from its corporate and investment bank and sell
the prime brokerage unit that caters to hedge funds.
Bank of America acquired mortgage lender
Countrywide Financial in June and said it will cut 7,500 jobs
nationwide from the combined company over the next two years.
History
Bank of America was originally headquarted
in San Francisco. It merged with NationsBank in Charlotte in
1998 and retained the Bank of America name. Headquarters are
now located in Charlotte.
Bank of America has helped finance thousands
of films since the earliest days of Hollywood. It also helped
finance the construction of Disneyland in California.
In 2005, the company acquired MBNA, a leading
issuer of credit cards. MBNA is now part of Bank of America Card
Services and the largest credit card issuer in the U.S.
Bank of America was added to the Dow
Jones Industrial Average Index in February 2008.
Benefits
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 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. After one year
of service, Bank of America matches your pension contribution
up to 5% of pay.
Discounts on bank products and services - Eligible associates
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.
Commuter benefits - This program allows associates to
pay for many work-related commuting expenses on a pre-tax basis
up to pre-defined IRS limits. An associate may enroll in the
Program or make changes each month.
Other benefits available to associates
include:
* Short-term disability
* Long-term disability
* Special leaves - bereavement, jury duty, Olympic, foster
care, and military
* Matching charitable gifts program
* Long-term care
* Home ownership program
* Educational partnerships
* Volunteer grants program
* Volunteer Time Program
* Commuter Benefits
* MetLife Auto & Home Insurance Program
* Rewarding Success
Updated July 13, 2008
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