BofA was very quick to advertise that they gave RSU's to people making less money:
Making up to $50,000:
2021: $750
2022 : 65 units
Making over $50,000 up to $100,000
2021: $750
2022: 80 Units
What they obviously are not mentioning is that people making over $100k are getting less RSUs than before. Here is one example:
2021: 200 Units
2022: 120 Units
So with record profits and all, they are robbing Peter to pay Paul...typical.
@5pio+1f8BKIvB So last year on 18 billion profit I got 150 shares. On a record 32 billion dollar profit I got 120 shares. So according to your rambling, shouldn't that allocation have been MORE this year given the bank's performance, meaning the bonus pool was less than it was on 18 billion?! If you're going to post, at least make sense.
Greed. Designed purposely to fleece lower level employees.
It’s funny what tools are on this site. Say the board sets aside $5B to award RSUs each year and yr 1 the stock price is $30 and yr 2 it is $40. Do they have more shares or fewer shares to give to employees in yr 2? It’s still $5B either way. For those of you crying about it, just leave. You think you are an E/M but you are undoubtedly a low M/M
@mjx+1f8BKIvB The only people whose actions have even the slightest impact on stock value give themselves huge bonuses every year regardless.
The main guy gets $32 million this year and the people who are working daily are supposed to be unquestionably grateful for some RSUs that they may never see.
Lots can happen with jobs and that is figured into the risk calculation.
P.S. You received Units not monetary value. 120 is a smaller number than 200. Period. The market can do all kinds of crazy things so don't count those chickens before they're hatched.
Total value (at the time of grant this week) = 10% less than last time
Sharing record profits my a** #31%PayIncreaseForBMOnly
The rest of us got screwed. (again)
Funny the guy getting these for years doesn't know how they work.
Honestly, every time I think this place can't get any cheaper, they do something like this and totally change my mind.
It's all bread crumbs. We're just getting less of them. Here we are arguing about it instead of realizing it's just a pretty sh*tty deal all around. And yeah, people are rightfully upset.
"Brian Bucks! Hot off the press! Get yours in... 4 years!"
I think the 120 is more than 200 guy doesn't understand that today's stock price has nothing to do with how much he'll be able to sell it for when the shares are finally vested. He thinks just because the stock price is 48 dollars today he'll be able to sell it for that in 1-4 years. He's not realizing that todays stock price has nothing to do with future value.
The value of shares is not guaranteed, the number of shares is.
It may be high today, but who knows what it'll be in the future?! What if the market crashes and the price is worth $10/$20 dollars? Which would you rather have, 200 shares or 120 shares. And if the price goes to $50, which would you rather have, 200 shares or 120 shares. Either way, this grant is cr@p.
Given the company had a record year, I think most people expected more shares, not less. And don't tell me it's worth more, it's not worth anything till I sell the shares which I can't even do for years to come.
@cuk+1f8BKIvB you are clearly missing the point. Yes, TODAY the price of the stock is 48x, but you're not getting the stock today. You are getting it years 1, 2, 3, and 4. So to say it's "worth more" is ignorant since it's not worth anything today till it is vested. When the vesting happens you can claim it's worth x amount. If we were able to sell the stock today, yes, you'd be right, but since we are not, your understanding of "worth" and "value" is misguided.
And I think the other poster brought up compensation since the RSUs are "based on compensation" as directly quoted from the announcement. So how can you get 200 one year with xyz compensation, 150 shares the next year with the same xyz compensation and 120 this year with the same xyz compensation. It means it's clearly not based on compensation.
200 shares at 20 bucks is worth less than 120 shares at 45 bucks. Today's share grant is the highest value of any grant in this program.
In other words, they are giving more in RSUs this year than in any years prior.
Also, yeah, share price isnt guaranteed. RSU's are an incentive for you to 1. Stay with the company and 2. Do a good job so the company succeeds, and in return, over time, they will give you money for it.
Its not meant to be cash, its meant to succeed, together.
A lot of... interesting takes from people on here. "200 shares is worth more than 120 shares!" Yeah, duh. But when you got those 200 shares, the stock was at 20.
The other guy posting about salary going up by XYZ... this isnt a salary discussion. Its an RSU discussion.
As to who will get the money in four years? Well, if you quit, you won't. Thats the point of RSU's. They are RESTRICTED, to incentivize you to stay.
I have received RSU's for a long time with this company, not just with this program. Compensation for your directors is all RSU's. They might make 200 in salary and another 50 in bonus, but the rest up to a million is all RSUs. The goal is to make the company succeed, not to pay you out today so you can bounce.
Not many leaders in this forum, just a bunch of pi---d off people. Except maybe @mjx+1f8BKIvB guy.
HAHA, that poster about 120 shares being worth more than 200 shares, hilarious.
That's like saying I bought a lottery ticket and give that as a present and claim I gave the receiver a million dollar gift.
@mjx+1f8BKIvB um, you DO realize my 200 shares from two years ago are worth WAY more than the 120 I got this year. Giving stock based on price is a shtty way to do it as there's nothing to say how much it's going to be worth in the future, when it finally does vest YEEAARRRRRSSSS from now.
The value of stock is only realized when you sell, therefore my 200 shares, even though they were granted years ago, when the price was 29, are worth almost double to my new 120 shares.
@wcc+1f8BKIvB how many people do you think will be around in 4 years to see that money? My guess is a very small percentage. My team, alone, has seen almost 100% turnover in just 3 years.
@mjx+1f8BKIvB God, think before you reply.
Stock price is not guaranteed. Sure it's up today, but we won't see that money for 1, 2, 3, and 4 years from now. They said RSUs will be based on compensation...
This year 120 RSUs based on approximately the SAME compensation as last year, thanks for sht bonus and year end reviews.
Last year 150 and 200 the year before. My compensation went up a total of 4.4 % from two years ago to now, yet RSUs went down 40%.
So explain again how it's based on compensation when that didn't change at all with ANY significance in three years.
If you did the math, you got MORE MONEY WITH THIS RSU SET than you did with the 200 shares before.
The stock price is up. And it isnt a straight line relationship either. Stock price has gone up by 50%, but they only reduced the share allotment by 40%, meaning your 120 shares are worth 10% more than your 200 shares before.
God, do the math at least before you start complaining. For christs sake, they gave lower earners RSUs which is UNEARD OF IN ANY INDUSTRY, ANY.
Never in my life seen people complaining about FREE MONEY.
...and in the process making themselves look like the good guys for giving lower income earners RSUs.
Amazing that according to my compensation range I got 200 shares before but now with the same compensation range I only got 120... hmmm