I'm sad to say that the company that once valued its employees now couldn't care less about them. We were considered to be a valuable asset once upon a time, but now we are nothing but numbers. No matter how long you've been here, they will cut you if you make too much. That's how low we have fallen.
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Loyalty went down the drain when corporate HR stopped actually providing helpful service for employees and pivoted to being a protection racket for incompetent and rogue management.
To the dudes or dudettes who have 25 and 35+ years at BAC. You’re in a great position if a layoff does come your way. I was just short of 25 when I got severed. The package is fabulous when over 20. And you will be surprised how valuable your ‘I worked for Bank of America” will be when interviewing and accepting a new job. I was hired by a small firm. Equal pay and better benefits because they wanted what they considered world class talent. Don’t underestimate your value!
Anyone that is loyal to their employer (especially the Bank with its horrible employee relations history) deserves what they get from them. They will replace you like you never existed. It doesn’t matter how long you’ve been “loyal”. The 1st and 15th….that’s all that matters. Working harder doesn’t get you a bigger paycheck. Be smart about it. Do the minimum and when the transactional relationship doesn’t work anymore, find another opportunity.
Just look at it as a job. Not a career path. Unless you are the “in crowd” or of diverse background you can move up. But for most of us, you get told where you are going to move to. It’s a job, it’s a paycheck until retirement or layoff whichever comes first.
35+ years here. While it's nice to be appreciated, can't say I've ever looked to my employer (in any of its incarnations) to "care" for me. It's a job. I do work. They pay me.
(when I feel underpaid, they get less work/fewer hours from me)
Generally my comp has reflected how the company performs Good years, I'm paid more -- sometimes a lot more! Down years, like this past year, am paid down like everyone else. My performance matters little either way, so I stopped "over doing" it.
That said -- @1ioi+1laziM6X -- there is a value for knowing how to navigate your this company to get stuff done. Many newcomers, while they may bring some new or different skill, fail miserably and leave within 1-2 years b/c they can't cut it.
I think people who jump companies do end up with higher salaries. While those of us who've stuck around have probably suffered pay wise, then again, I haven't had the periods of unemployment -- without any pay/benefits -- that many of my friends have.
I have a big fat 401k that they don't, and many of them will need to work years longer.
Why would they reward that? They probably see it as being a waste of space, since you don’t bring any experience or skill to the table from outside the company. There’s nothing worth investing in. Go live your life and find a new skill to learn, the world has so many options, and they are giving you the freedom to spread your wings and fly.
This bank doesn't care how long you have been here. There is no caring on how long you have been here. I have seen employees here for over 25 years and get screwed out there job at this bank. I am preparing myself for this massive layoff that I see is coming.