Would someone on this board be able to help me figure out what Bank of America Band 5 salary is?
I know that BAC has salary ranges for different bands and I was able to find info on Band 6 but no info on Band 5. So, please provide info on Bank of America Band 5.
To the OP: @mkm+ZQppmlG is correct. Lots of variables, esp, by which department you're in and which location. (Dept and role drive comp more than location.)
Maybe specify which division and we can be more helpful.
Also, some people are higher if they came from outside.
I hired someone from outside who was higher, but i was able to make the case to HR, then used that to bring up the others on my team over the next 2 years. (d@mn hard).
Just keep this in mind if you hear of someone with a higher #. (and if they have a higher #, they'll likely never see another increase again.) HR makes it way too hard.
Band 6 making 48000 before taxes
How much do BofA start for Health Benefits Solutions Representative, it’s a h7 band
Was part of GMCA as a B4 VP making less than 90k. Knew of a B5 VP making under 70k.
Lol if you think the max band 5 salary is 130k.
Albany it $100k
I'm at band 4 right now - my total compensation is about 300k - 190k base/80k cash bonus and 30k Stock Bonus
Here is Band 6 Pay Range thread we had on this topic a few years back: @FE6jvNc
B5 Band total comp (and any other Band) will depend on your location and division – things will be different in groups that are client facing vs back office, etc. Also, large coastal metros will compensate more, primarily New York City and San Francisco. Typically South and South East will pay less, etc.
Also, things change every year so BAC Bands will adjust. Now, if I was to generalize and if I was to exclude crazy expensive metros, we can probably talk about averages as listed below.
B3 to B1 should be $250K or more
B4 will be in a $120K to $250K pay range
B5 should be in a $60K to $130K pay range
B6 should be in a $38K to $60K pay range
B7 should be in a $29K to $43K pay range
B8 will be in a minimum wage to $33K pay range…
B3+ is hard to figure out as they protect this info very much – and also there are very large swings there – for example Analysts on the Investment Banking side make millions. C-Level folks tens of millions, etc…
Now going back to your B5 pay range question – as you can see $60K to $130K is a pretty wide range. The B5 cohort is arguably the core of the company, think in terms of work output that this group produces – they probably carry the most weight if compared to all other groups. Within the group there is ton of variety in experiences and the B5 Band is heavy layered – hence such a big variation in the compensation level of B5 Band.
I hope this helps.