Thread regarding Bank of America layoffs

Bank of America Band Salary Numbers

We get questions about salary levels for different bands at Bank of America all the time. This board is littered with similar questions (there is one below) and there is a ton of posts on this on Glassdoor and Payscale website. Here are some examples that you may find useful, based on my expeireince, rumors, things I’ve hard from peers, people who left, etc. Keep in mind that things will depend on the grography we pay more in high cost areas such are San Francisco or New York – it’s lower in the South, etc.

  • BAC Band 8 Salary Range: $22,000 to $32,000

  • BAC Band 7 Salary Range: $30,000 to $50,000

  • BAC Band 6 Salary Range: $45,000 to $80,000

  • BAC Band 5 Salary Range: $70,000 to $125,000

  • BAC Band 4 Salary Range: $100,000 to $250,000

  • BAC Band 3, Band 2, Band 1 Salary Range: $250,000 to A-LOT

The last cohort is B3, B2, B1 – exec positions, there is a ton of performance bonus stuff being built into this total comp – has to do with how much money you make for BAC – you can make millions in this band(s).

Also, always think in terms of total comp as you climb up the ladder, so once you hit certain levels you do not care about salary as much as bonuses, stock, etc. will contribute more to your total comp than salary itself. Now you get the point here…

Also, I may be off here or there but the numbers are good in general. Feel free to correct me and chime in with your own numbers.

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Post ID: @ZnPwkIQ

4 replies (most recent on top)

Bands don’t determine pay as much as functional titles do. Investment Banking Analysts who earn six figures are Band 6 yet some call center reps are also in this band making $50k. Bands really come into play at certain points- Band 5 means you get 20 vacation days plus floater. Band 4 used to mean that one’s annual bonus had to be split between RSUs and cash based on the Board’s comp committee’s allocations for that year. This changed in 2019 and now Band 5 is also subject to RSUs if their annual bonus is >$50k. The split is determined by Board. Band 4 is minimum for Director/SVP title (but one can still be VP in that band). Band 2 is level of running a functional LOB. Like ISG, Retirement. they make huge salaries and get massive RSU comp.

I know several Band 5s that pay $200k (base and bonus) and some Band 4s only making 150.

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Post ID: @ZnPwkIQ-pror

yes, that's correct........

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Post ID: @ZnPwkIQ-3jzt

Math checks out

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Post ID: @ZnPwkIQ-1hpu

I posted this in the thread below - here it goes again:

you have a long thread on this salary topic here:

@FE6jvNc

or here

thelayoff.com/t/FE6jvNc

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Post ID: @ZnPwkIQ-upi

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