99% of all company business lines pays cheap. It's a sweat factory for talented and hard working peple because you do lots of work for ppl who only kiss axx or are favorite of managers. Math PHDs in company top modeling teams may get 200k total. Masters in IT or Data are mostly around 80k-100k total.
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It’s common knowledge that Bank of America always comes in low with pay. If you want to work at a bank AND get paid well, BofA is not for you.
But, thank god Moynihan gets $30mm
It’s not a H1B or immigrants friendly place for sure. Finally it helps people to understand why African Americans fight endlessly for their rights. Same slavery on different groups. It changed my view permanently.
The problems is that every manager needs at least 8 direct reports to be a manager, regardless of if dr can do their jobs or not. 70- 80% pays go to the ones who can’t do much, the 20-30% hardworking and capable workers get under pay or flat pay because they spend all of their time working and didn’t have time to play politics or set inner circle relationships.
OP is spot on with his post. I made substantially higher salary when I moved from Bank to another company. Its an open secret that Bank pays less. My new company low balled me as well, but they still came in higher than what I made at the Bank
BAC only gets away with this because of abuse of the H1B system
I would say get rid of the Math PHDs and just listen to the Banketeer
So far the Banketeer has suggested 2 conservative trades (BAC, INTC) for a total of about 10 days of investing and the return is +7%.
Next week he’ll suggest a strategy on XOM.
Stay tuned
agree. bank is conservative with their increases. best I ever saw was 3% because I was friendly with my manager. he left and now I'm getting 2%. the only way to earn more is to jump ship and get it somewhere else.
The pay here is for NY or CA. Other states pays even lower. Friends from top state colleges, business major gets $20.50 per hr in 2020. CS graduate was hrly pay and became full time decades later with around 75k after almost 20 yrs. NY PHD got 200k but then was laid off.
Yearly increase is 0% or 1% a lot, max is no more than 2%. When lay off comes, hard working ppl are let go because they are not good at kxssing axx or have no relations with upper. It's not a good place for honest and hard working class.