Hello - aside from a potential pay increase, what else do I gain if I move to a band 4?
I think I get an extra week of severance for each year of service should that ever happen. What else changes?
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Greater % of your bonus is in RSUs instead of cash. 30% of my last year bonus is now paid over 4 yrs
The main difference is now you can run around telling everyone for the rest of your life life that you are a band 4 SVP, but any anyone outside of BAC will have no idea what you are talking about.
Maybe more messaging. I remember certain communications would be targeted to B1-5.
I recently went from B5 to B4. It came with about a $12K pay increase and an insane amount of more responsibility. Given the timing of my promotion, inflation pretty much kept my buying power flat and earned me a ton of additional work.
Main difference is as B4 you will be kissing bigger azzes.
They offer a position but don't tell you what it entails? That doesn't sound right. How about asking the people who made the offer?
More work and often not any more pay.
The salary levels across bands overlap.
Nothing
Medical premiums change with pay, not band.
More work, little to no increase in pay and higher medical premiums.
from what i understand, your severance only jumps from 2 to 3 weeks when you hit 20 years, not based on band level
From what I've heard, could be more or less for you, pay increases from 5 to 4 aren't that large, if you even get any. Definitely more responsibility and expectations, so unless you can secure a nice raise, might want to consider if it's worth it.
Potentially larger bonus pool and lower annual raises.
A lot more work, responsibility and personal liability in many cases. You would also be eligible for a SVP title.
Nothing really... depends on your mgt of how much of a pay increase you might get. There is no standard for it. I've seen 5k to 50k jumps. All depends on your mgt.