A family of three making $52,000 to $156,000 per year is considered middle class.
Why is there a $100,000 cutoff for raises? The Bank is contributing to the middle class struggle.
Signed, an angry employee making just over 100K
14 replies (most recent on top)
Are u being serious? I feally doubt it...
I heard a communication is coming out soon for those making over $100k.
This $100K cap, on decing if you get a sprcisl raise, has done way more damage then HR will ever know. We have seen our minimum salary go from $15 to $23 an hour. Our CEO's comprnsation is ridivulous! Sheri from HR needs to go! I no longer put the hours or effort in what I use to. I will do just enough to get a meets and hope for a severance. I have heard people vent to me that have never vented before. Big mistake ihnoring the $100K plus club!!!!
I am not an expert but I believe at least 30% (probably under 50% but close) of people make over $100k here (not 3%)...
I liked where u were going w it though..
"Please, I implore you to shift your thinking and direct your disbelief and anger toward Brian Moynihan making $32,000,000 a year with a 31% raise."
Spot on. Brian has no issue collecting some serious coin but forget about all those folks who helped make that possible.
Some quick math. BAC has 208K people. The 3% that is apparently above the $100K means 7,000 people get left out. If all of them got $7,000 (this is the max $100K person could have got in theory), then BAC would have had to come up with $43,680,000 to cover them. That's not much more than Brian's total compensation. Seriously, the bank came up with @1.4 billion for the 97% (assuming 7% increase), gave Brian $32,000,000 but you had to leave out 7,000 people for what amounts to less than $50,000,000?
@1fff+1gZU68UC The average 3 bedroom home in my area is going for over $1m so by comparison places like North Carolina are still quite a bit cheaper - but I agree, not cheap.
Living in Carolina..Carolina is not cheap anymore....my house a bought for 300k 4 years ago is now worth $650k...
I have a rental house where I won't rent to anyone less than $100k income as $2,900 rent. I might not rent to me working at bank for a bit more than $100k...
$100k isn't much in any of banks hubs...Brian and HR are out of their minds with this hardline $100k employees get peed on....
City bus drivers make more than 100K where I am. Not everyone lives in the Carolinas where everything is dirt cheap.
Please, I implore you to shift your thinking and direct your disbelief and anger toward Brian Moynihan making $32,000,000 a year with a 31% raise.
He’s making 320x more than the worker you’re admonishing making $100,000.
By your reaction, you make less than $100k and that absolutely sucks. YOU SHOULD
MAKE MORE. But don’t get it twisted, $100k is NOT a lot of money at all. In many states that is not enough to comfortably support a family or even buy a home.
People wanting more and stating that inflation and housing prices are outrageous for them as well shouldn’t be seen as complaining, it should be seen as strength.
We need to shift the balance of power because the reality is the middle class is quickly going extinct.
Workers getting paid more is good for all workers, full stop.
I asked my manager why tools does HR have to address compensation like me and you? He said other people raised the same topic on the team and it would be addressed year end.
Sorry but I’m not exempt from inflation which is in its 2nd year.
100k was a lot in 1980, but not any more. The worst is this group is continually stiffed. Nothing is ever done for us. I spoke the person the puts the health benefit packages together. He said “there will always be winners and losers”.
imagine complaining about ONLY making $100k, you got some nerve.
Fuhchk Brian!
In 2021 the Middle class household income in NYC was between $61,000 and $180,000 and LA was between $65,030 and $227,605
Setting a cutoff like $100k when CoL varies by state just doesn't make sense. Seems like the Bank is following the lead from the US Government.
Because when you need to pretend to be human for your customer base,
but you also need to collect your stock bonuses and executive tithes,
it looks good that you care about the Little People.
Has to be a cut-off somewhere. Make it a round number, some Jr. Exec said.