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Bank Of America
Investing in women
Investing in women

 

At Bank of America, our ongoing work to invest in women means that we support them as they make meaningful contributions within our company and in our communities. It also includes our focus on being a great place to work for our female employees, making the financial lives of our female clients and customers better and advancing the economic empowerment of women in communities around the world.

Our teammates are our most powerful resource. Being a great place to work for our employees is a key component of how we drive responsible growth in a sustainable manner, and is essential to how we make financial lives better. Our investment in women is evidenced by Bank of America’s strong female representation at all levels of the organization —women make up more than 50% of its global workforce; more than 45% of its global management team; more than 40% of its managers; and more than 30% of its board of directors.

Investing in women is critical to driving responsible growth

Watch to find out why Bank of America have programs and practices in place that focus on increasing women’s representation at all levels and give teammates the tools to be successful.

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Being a great place to work for women

  • Developing and advancing women
  • We’re committed to attracting and developing diverse and female talent, and have strong programs in place to help them advance their careers including our annual Global Women’s Conference, Diverse Leaders Sponsorship Program, and Power of 10 mentorship program.
  • Industry-leading benefits
  • We offer a variety of benefits and programs to support female employees in managing the demands of work and personal life including flexible work arrangements, back-up child and adult care, paid maternity, paternity and adoptive leave for parents. Our expense reimbursement benefit supports nursing mothers by covering costs associated with shipping breast milk while away on business travel.
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  • Connecting women employees
  • We have a variety of enterprise and line of business networks in place to enable women to stay connected and develop skills to grow into future roles including our largest employee network, Leadership, Education, Advocacy and Development (LEAD) for Women and our Investing in Women Leadership Council, which brings together senior executives representing the company’s lines of business.
  • Workplace policies and practices
  • We’re focused on providing fair and equitable pay for all our teammates. In our most recent review of total compensation for U.S. and UK employees, results showed that across the company, compensation for women is on average equal to greater than 99% of that received by men. And we furthered this effort by restricting how we solicit compensation information from candidates during the hiring process.
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Hear from Reena

dcms workReena Shukla, Director in EMEA Operations and co-chair of the EMEA Parent and Carers Network (PCN) at Bank of America.

Why did you join the PCN network?

I had my first daughter in 2017 and upon returning to work after maternity leave I found it challenging to balance everything – work, childcare, family and social life. I wanted to hear from people in the bank in similar situations and therefore joined the PCN network and later on became the co-chair. Throughout my career I’ve not been very active with the networks but this life-event made me want to get more involved and understand better the benefits that were available to employees as well as other relevant topics to parents.

What benefits does being part of a network offer?

Aside from the obvious ones such as getting access to multiple events and sharing similar experiences with co-workers, the connections I’ve made in the network have been so valuable. I have been able to meet people that I may never have met outside of PCN including my co-chair, Eoin Kashishian. These relationships are beneficial on a personal and professional level.

How does the bank support working mothers?

It provides a lot of great benefits even before the baby arrives. I took up the maternity coaching and found it really useful in making the transition back to work and setting boundaries around what sort of work pattern I wanted when I returned.

I would encourage everyone to be open with their manager about your needs. The bank also provides support through an Employee Assistance Programme should you wish to speak with someone for confidential support.

Do you have any advice for other working mums or those soon to become a working mum?

10-15 years ago there was this misconception that women had to sacrifice their careers to raise a family. But as long as you set boundaries, be at work or at home, and accept that at times there may be things that you won’t be able to do, you can be successful in both.

What advice would you give a parent/carer who is looking to returning to work after an extended period of leave or career break?

Allow yourself time. It may take several weeks or months to get back into the flow and adjust to your new routine but it will happen. Recognise the new skills you have and remember your old skills don’t go away. Be confident in what you do and speak up when you need help. Join the many employee networks to help give you support and connect with people in a similar situation. You are not alone!