I don't like this bank or its leadership any more than anybody else here, but this is not just our issue. I looked through pages for other banks on this forum and I couldn't find one that gave its employees cost-of-living raises. Raises average 2-3% all around, from what I could see. Again, I'm not defending BofA, just saying that this is a much bigger issue that's common to all banks. Or at least all the major ones.
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I got Exceeds/Exceeds and didn’t see a penny of a raise this year. Very disheartening.
I got a 1% pay increase. I think it's because i'm probably at the top of my pay grade.
@zxy+1f5Wg2Gy Sheeeeeeeeeeeeit.
It's not a lack of empathy.
People here seem to lack perspective. I have worked at tons of places and 90% don't even have the possibility of a raise annually. Let alone a significant portion of the workforce receiving on every year.
Yes, you are stack ranked and if your performance is not better than your peers you will get less. Why exactly is that a problem? Maybe it is because I am in a pay for performance role but truthfully, bofa while often problematic is still a great place to work overall. Plenty of time off, the possibility of raises and bonuses for non sales roles etc.
Just get some perspective and be glad that you have a fairly decent job or.. Go elsewhere.
@idj+1f5Wg2Gy you are outside your mind.
I had a M/M and didn't receive a raise this year. Last year I had a M/M and received a raise. How's that for a "fairly guaranteed raise"? When I asked why, I was told they are mandated to not give to some M/M raises because of the stack and rank system. So even if you do your job, it doesn't guarantee sht. So please take your head out of your a$$.
@idj+1f5Wg2Gy Do not diminish others' circumstances just because you don't share the same plight. Total lack of empathy.
Yall spoiled.
I have had quite a few Jobs and not a one besides bofa even allows for a fairly guaranteed raise.
Idk about you guys but I make a decent living, have a bunch of time off, holidays off, tons of parental leave. Everyone here seems to have such an expectation that the bank needs to give them "cost of living increases" that you come off like children. There are soooooooooooooo many worse jobs out there, appreciate what you have.
Gosh, you young people. Companies don't give "cost of living" raises. Companies compete to LOWER wages, not increase them.
Shortages of workers result in wage growth, thats it.
Inflation is quick, wage growth is slow. How do I know this? Two reasons. I took econ back in college, and I was around in the 70's, I remember how tight things got suddenly.
I am so thankful to our id--t government for printing cash like no tomorrow, and handing it out left and right, and keeping interest rates at 0 for a decade to spur growth. Cant go ti-s up! (sarcasm)
Does anyone think the bank will come through with a pay increase across the board?