Curious if anyone is aware of the date managers begin disclosing pay increases and/or bonuses.
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Band 6 Exempt. Meets/Meets 2.5 merit 750 bonus
Those who kiss a$$ get higher raises. It's always been a popularity contest. It has nothing to do with your performance.
B4 M/E flat base bonus down 25%
- 5% increase and around 4k plus bonus. VP Band 5 meet / meet.
Band 6 M/M 3.5% plus 750 bonus.
b5, 2% raise, 2k cash.
B3, M/M, no salary increase, 30% bonus cut, no stock - all cash.
hound them about it, don't let that coward off
My co-workers were told last week about any bonus or merit increase.
I still haven’t heard a peep from my manager. I’m a little worried over here now.
Got promotion this year...base up 5% and bonus down 20%. Net loss from 2019 to 2020 with promotion factored in.
I figure for my group sometime in February. Historically that when it happens unless the $750.00 bonus is all we are getting.
Manager just sent an email, no call to inform
Did anyone have conversations with HR to find out their merit increase or did you have one on one with your manager to know your merit increase? Not sure why the conversation has to be with HR this year? And was told not to ask about merit increase with the other manager who was in a different LOB before the WFH situation. What was that about?
Band 5. VP. No increase meets meets and less bonus than last year but happy to have job. Think I’m prob at the higher end off salary range anyway.
I think the bonus reduction depends on what percentage of your pay constitutes bonus. I think the overall comp is down by 7% on average
B5, 2% merit increase, 25% decrease in bonus. Worked 80 hour weeks in 2020. Committed to working 40 hours or less a week in 2021.
B5, VP, 2% raise and 30% bonus reduction vs. last year. Thankful for a job so not complaining at all.
Was expecting nothing and got stock grants, cash and raise. So I am thankful that I got something versus what my expectations were.
Had my discussion last Friday. B4 here. 1.1 percent merit increase and a reduction of 35 percent on my bonus. Good times. But, hey... happy to have a job.
750 bonus, 2 percent. Smh
The bank likes to cloak itself in moral rectitude with all its outward social programs but fails its employees cutting back end of year bonuses. 18 billion dollar profit, yet during these hard times, the bank decides it's best to reduce the amount people get.
sorry couldn't find anymore loose change for you in those nearly 18 billion in profit
Incentive comp is not guaranteed. Revenue was down as was my bonus. I expected this even as an exceeds. Also , Band promotions don’t mean you’re going to be suddenly making as much as peers. Experience and function in the role greatly affect this. If you’re bitter and unhappy then move on. That’s the great thing about capitalism. You’re free to choose you’re destiny.
Band 5 VP, no bonus, 1750 raise. Meets/Meets
Not surprised given the economic climate. Hiring is down and more competitive across the board.
Of course I knew this was going to happen at the beginning of last year so I definitely didn't work any harder :)
Like others said, got word today, 2.5% raise, 75% less bonus than last year despite having 10x times as much work. Was told the pandemic had a lot to do with it. Funny, pandemic didn't stop me from doing the work but it stopped the bank from paying me what I should have been.
Got promoted from band 6/SEI to band 5/SEII , only got a $2,000 raise. Others working with me who are B5/SEII are making $10,000 more than me.. a little disappointed.
Got my numbers today. It's really low compared to last year but so glad to have a job considering the circumstances. The downside of pay cut is that it drives away high performers. Hope bofa manages to retain their high performing employees
Had my conversation today no raise or bonus first time I’ve gotten nothing in the 33 years I’ve worked for the bank
Bonuses down significantly
i got my numbers today. 2.5% increase. bonus was less than last year. Happy about the increase tho. I was expecting 1%.
For the past several years the system is updated on the Monday following MLK (1/25 this year), I suspect people aren’t told til the last minute so no one tries to dispute it, if your manager even bothers to communicate it
Told approved for talks starting today
Pay increase ha ha ha
yep, right after your coworkers are laid off ; what greed
last year I found out on my paycheck, boss was too lazy to communicate