@130 I'm with you so tired of not getting raises or promotions I am with in a year of being able to retire myself.
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@j6 that is a flat out lie --- i know many B4s who barely get 15K bonuses, and they got a 10%-15% salary range, only cause they were low paid as a B5. Bank of America does NOT pay good money - period. Plus they continue to rollback B3 bonuses each year lower and lower --
"The grass is always greener on the other side"
Things often look more attractive from a distance than up close. Don’t spend more than two years in the same role or company, changing positions regularly is the fastest path to growth and higher pay.
On Monday, I had my mid-year review. Same old nonsense. Good stats, no issues, and no raise. I have to wait until February. Just like the previous post regarding B6 with high tenure at BOA, new hires get a better salary at $24/hr with no experience. Later in the year, new hires will get $25/hr. In addition, I was asked to worked overtime to help out with the staffing shortage in my group. I do not think so. The staffing shortage was because of mismanagement just like my pay raises. It goes both ways.
Soooooo close to retirement that any day may be the decision. Then again, this may be BOA way of forcing attrition.
Raise? What raise?
Band Level Incentives
Band Bonus Stocks % Salary Increase
B1 $2 M 50 K 40%
B2 $100 K 25 K 35%
B3 $90 K 10 K 30%
B4 $75 K 5 K 25%
B5 $1 000 150 0.2%
B6 $500 100 0.1%
Band Bonus Stocks % Sal Increase
- --------- --------- --------------------
B1 $2M 50K 40%
B2 $100K 25k 35%
B3 $90K 10K 30%
B4 $75K 5k 25%
B5 $1000 150 0.2%
B6 $500 100 0.1%
Suppose you were getting bonus $5000, now you may get $10,000. Now you may get more vacation and stock options as well.
What is band 4 salary range, mid-point, and max? What are real-world salaries - any bad 4's care to confess?
@d7 they should increase you r salaries. You are training people making as much as you Come bank America get with the program.
View from the Top:
You should be grateful to be promoted to B4 and get the title and more "Responsibility" (translation: TONS More Work and More Hours).
As for Comp?
Bupkus.
Welcome to BofA,
Your Manager
Never mind the increase from Band 5 to 4...
What about some of us who are currently Band 6 making $2 above the minimum BOA wage? When the minimum increase $1 to $25 this Fall, will our wage increase as well? Nope!!! And yet, some of us have 25+ years at BOA and this is how management respects their tenue employees. 25% increase is a lot in comparison to what I was asking for. Instead, I get BOA responding that the company values your performance and contribution. Bull****. Well, maybe the respect will be given back. Oops, I made an error due to lack of being diligent like a new hire and it cost the company money.
Though I am only human...
I got 0% when I moved to a 4.
This was many years ago but be prepared. Some of the comp will increase in your bonus. Also depends on your lob
I dont really know how band 4's survive. The ones who are actually legitimately band 4's with many responsibilites are dealing with some of the biggest scoundrels imaginable who constantly cry and complain.
And since there's an obvious middle management issue its more or less a death sentence for your career. Have a miniscule chance of moving up, and much bigger chance of being demoted in many cases regardless of what is done. Band 3's aren't really interested in a power player so most favorable outcome in many cases is just to be a band 4 for at least 3 years and then move on to another company before this one tears you down.