Manager hasn’t scheduled me for a comp conversation and I’m seeing conflicting information in threads. I keep seeing no raises and 20% reduction in bonus but healing internally that the go ahead to release info hasn’t been received. Are both of these correct?
55 replies (most recent on top)
100k, 13 yrs experience, IT, 0 raise, 4K bonus. Updating my resume.
GIS
121k, no raise, 2400 bonus, 120 rsu, updating resume
Finally had that talk (no, not the birds and the bees). I was gobsmacked 4%. I was expecting half that.
0 raise is the technics they use to push ppl out without paying severance. That's organic. If you still have many years to go , please Do Not stay to waste your time and talents because it only drains the best part of you and throw you out as a piece of trash later. It is a cheap and toxic place with 0 respect on talents and diligency. If you are good at kxxsing Azz or playing politics then stay for sure.
113k, no raise, bonus decreased 30%
What bonus??? Are you referring to the cr-p stock options that has lost value? This year’s salary increase is an embarrassment.
I have not had it yet. No bonus in my role. Not expecting much if any raise. I'll ride this dead horse until I have to go back. Still WFH thankfully.
Zero bonus, zero raise. Started preparing a resume.
I must be in the wrong role.. I’ve never received a bonus. Do specific roles or bands get a bonus in addition to annual raises?
81k base. No merit increase and 8k bonus.
gwim/IT
113k/ 2% raise/1750 bonus
From what i see it sucked before( after bofa bought Merril) / and still sucks now
going back to consulting
GRM
$75k
$0 raise
$2k bonus
2% raise
4k bonus
Gwim
80k
5% raise
4k bonus
AVP...1.4% raise & $3800 bonus.
the raise is much lower than previous years. bonus is little bit better.
80k / 7k bonus / no increase
2% raise
1750 bonus
1% merit increase, 10% bonus reduction from last year. It’s what I expected
Zero raise, don't get bonuses in my position. Super pi---d.
@2sme+1kR3ByWn - exactly. Pretty much stuck at whatever salary agreed to when joining.
Haven't seen any raises in our group for 10+years.
Just the discretionary "bonus" goes up or down by the percentage the manager is told to use.
All the new people are paid, while the ones who have been loyal get scr*wed.
I've been with the company for 10 years and in management. I've never seen anyone get over 3%.
@2yef+1kR3ByWn - if we don't want (or need) to sharpen our skills, did they perhaps share in this meeting where we can sign up for these layoffs?
I would love to be first on the list.
We just had meeting today and was told to sharpen skills and networking. The big layoffs all across line of businesses should take place every quarter from 2023-2024.
At least the company has committed billions $$$ in bonuses to climate change. That's something, right?
How many people still have not had the comp conversation. How many people got no comp that received comp last year.
Several have mentioned they are at top of salary range. Anyone know if the salary scales are adjusted as cost of living increases?
Salary flat; bonus down 26% yoy
I had my comp conversation yesterday.
6% bonus and 3.5% raise. It’s not great, the raise is dismal, but better than last year.
https://www.efinancialcareers.dk/news/2023/01/bank-of-america-bonuses
No raise. 10% less on the bonus
Yes we can give millions and millions away to different causes all year long.
We need to send Cousin Eddie to Brian’s house.
180k base currently, no raise, 3k bonus. I am at the max end of the salary range of my band so I wasn't expecting much but I also do the absolute bare minimum to meet expectations while I work on my other job ¯_(ツ)_/¯
Base unchanged. Bonus down 15% from last year.
I’m sure everyone enjoyed the gloating of the person that joined late in the year and got a large raise and bonus. What an unpopular person they must be at work, home and life in general.
i got 15% less in bonus and 2% raise.
No increase in comp and no bonus this year saying my total comp had increased last year which is at the max at my role level
How do increases actually work? Does your manager tell HR after they decide and then HR increases per management or does HR make the final decision. In other words can HR come behind the manager and say no merit or less merit than the manager put in for?
I would like to thank BM and the management team for the insulting and meager raise along with the reduction in bonus. Not to mention the RSU units that I won’t be able to access for a few more years. This commitment to its employees is unparalleled it is what sets Bank of America apart from other institutions. They pay for performance and it shows. Looking forward to the huge bump BM will get this year. Congrats on another stellar year for BM and the stock holders meanwhile the ones who make things happen can’t even break even with inflation.
I started in late 2022 and am receiving a $5k bonus and 2% raise boosting my salary to $135k. I am a little surprised to get either based on the way management talking.