Thread regarding Bank of America layoffs

Band 6 to band 5

Anyone know what should be expected as far as pay coming from a band 6 to 5? I want to also add I will be losing my shift differential which is 8%. Will it be worth it and are there ways to counteroffer if the increase is low?

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Post ID: @OP+1hViDxWE

8 replies (most recent on top)

I got no raise, and like the poster below, I was told I get year-end bonus eligibility so I should be happy. I got $2000 my first year and I am now expected to work an additional 5-10 hours per week. I have been here for over 20 years and make far less than 100k. Take it if it means a job you prefer, but do not do it for the money, because there is not any.

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Post ID: @onej+1hViDxWE

@1jzb+1hViDxWE - wow, you were wither brought in really, really low or just seriously underpaid.

24% increase over what? the hourly minimum wage?

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Post ID: @ggfe+1hViDxWE

It really depends on where you are in the pay scales for your current job and the next one. I would push for 15% and clearly point out you are losing the 8% shift differential. Also, keep in mind if you move between insurance salary ranges, I.e. go over $50K or $100K, your health insurance costs go up.

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Post ID: @fnhs+1hViDxWE

Whatever they say to you, negotiate for higher. Don’t accept the first offer; this company can afford to give you a real increase with a promotion.

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Post ID: @6yns+1hViDxWE

I went from 6 to 5 and got: NOTHING. No more OT, and the raise I was expecting with Band 5 came in the form of "you're doing so well, we are promoting you. Congrats. Your compensation will remain the same, but now you're eligible for year-end bonus." My year-end was $2k, or 2 months worth of OT in my old band.

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Post ID: @4weh+1hViDxWE

Nope, don't do it

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Post ID: @3kmx+1hViDxWE

I received 24% increase

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Post ID: @1jzb+1hViDxWE

It depends on the pay range for the b5 role and your current compensation. If you are at the higher end of b6 then I wouldn’t expect a lot. Again it depends on the range. If you’re losing shift dif I wouldn’t take less than 20%. Even though they will tell you that the differential isn’t guaranteed. Meaning they could move you to day time in the same role and you couldn’t do anything (happened to me years ago). In any event, my logic is don’t take less than you’re worth. I usually aim for 15% but I move b5 to b5. I usually end up with around 10%. I am however at higher end of b5 Range for my lob so even tho I switch jobs my increases are less. Oh and ALWAYS counter. If they say 60 counter at say 65 they’ll usually come with 63. It’s the easiest 3% more you’ll get. And keep in mind switching this time of year likely means you will not get a year end increase. Hope this helps

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Post ID: @1rag+1hViDxWE

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