I have been with this company for 10 years. I have moved up the ranks. I am a top performer. I have never gotten less than a 2% raise. This year? 1.3% what in the actual world??? I have never been so insulted. I’m crying at my office desk. I asked if my manager could advocate for me and she said they were done. They are trying to chase away top talent!
33 replies (most recent on top)
8-4p or 9-5pm if you don't take an hour for lunch. No more 9 hour days.
@ks+1jjmaw8mq - Right On! But they had enough for FIFA!
(while L.A. burns. No presence at the charity concert. So much for our 'Heritage" founded in California. "Bank of America" - the real one that many of us joined is Dead))
Shame on them! Can't (or won't) pay us. Can't (or won't) support our community.
But they sure can pay and enrich themselves and their cronies, huh? Core competence right there. Way to go Fleet FIFA f-ers.
BOA don’t pay jack crack. My last 3 years raise average about 50 cents and this year and this year nothing. Fu-kn joke a-s company and even Costco pays more than this sh---y place.
Match your effort to your increase. Enjoy every day off you are entitled to. Update your resume and use your lunch hour to network. Never skip a lunch for any reason. Block your calendar and treat it as your most critical meeting.
Keep up the good work everyone! Look how far it's getting you!
@ks+1jjmaw8mq - management aren't "cheap" in paying themselves!
They are just cheap to those who actually do the real work around here.
I'm tired of funding their 2nd, 3rd, 4th homes + Manhattan pied-a-terre and polluting jets.
Quiet quit and focus on my side hustle. (cuz this job is certainly not paying the bills!)
Check out the Rule of 60. I did. After the cr-ppy bonus and my shares settle, ✌🏻
There’s managing the money responsibly. And then there’s being cheap. The bank is cheap.
Wait for RTO 5 days a week.
They keep cutting headcount, adding work then decreasing compensation. Their goal is to outsource every job to India that they can without paying anyone severance. Bank of America, you can either pay your employees or pay the government through fines from not meeting regulatory obligations, your choice.
let's do it.
~ 8 to 5 M-F/no weekends, 1 hr lunch break, do bare minimum work and give self review at E/E and expect M/M
I think we are doing it all wrong. The only way for us to see increased compensation is if we have a bad quarter. The way management sees it, every quarter we have record profits but we keep giving the workers less, so let's keep doing that.
Atleast you got something … I busted my a-s the entire year taking over an underperforming area and got 0% merit
same here fully prepared for this day, sent 2 week notice
@cf+1jjmaw8mq - Same! Me too!!
I'm leaving now.
How’s them record profits working out for us? Lol
When I transferred to my current department I was told my bonus was too high to give me a fair salary for the role as they base it off of total compensation. I asked if they could lower my bonus and raise my salary to which the recruiter said no. 4 years later, my bonus has been reduced 10% each year and salary increased by 1% per year (for a total compensation net loss each year). Total joke
@bc+1jjmaw8mq - I am so sorry they said that to you. I have been here for years (not job hopping to other companies for increase pay -- ok, my bad).
I was told the same when switching depts that "your pay is higher than others, so you are getting paid DOWN to get aligned."
W.T.F!
I told my manager that rather than penalizing me, maybe the rest of the team should take an F-ing NEGOTATION class.
D-mbfux.
I got high MM and 0% again. I did get comp, but it came out to $1 for each hour worked this year. I'm convinced it's all part of a forced attrition campaign. You'd think the bank was running in the red by the way they have strangled compensation. Yet all we hear from BM and crew is how well the company is doing.
I am OP. I am B6 and I do not get bonuses. I am a compliance analyst. This has literally raised the prospect of severe financial hardship for me. I was told that because I make more than everyone else they gave my pay to others. I’m sorry but I have better qualifications and do more WORK than they do. Bare minimum from now on.
“Great place to work”….my ar-e…
I’m convinced my department is a sinking ship now, and looking forward to moving on to a new platform with the same capabilities to take the most valued clients with me. My relationship is with them, not with BoA.
B4 Top Performer here 30 years - bonus down 10% ("because expenses are still too high" - yea, we all pay that CEO and his cronies). Merit increase 2%, surprising as our salaries have not moved on our team in 10 years. Doesn't even match inflation.
We must all be very expensive, so they are pushing us out.
Maybe that will help "reduce expenses" so they can pay people next year.
I’ve been with the company 25 years and my merit increases have steadily gone down for the past ten years. Today I reached 0% merit increase. Thankful I received a bonus though, which is taxed to death! But still not a good day for me too.
Next time quiet quit and maybe you can be part of the layoffs and get severance like me.
I thought the raises and bonuses were going to be bad, but didn't realize it was going to be THIS bad. Time to go try something else.
As a B6 employee with 20+ years at BOA, I get upset whenever the minimal wage is increased by ONE DOLLAR. Last year my merit increase was LESS THAN A DOLLAR. This year, it may be half that amount as last year. I'll find out later this week (if I get one). In addition to my BOA health care premiums DOUBLED for 2025 and cost of living significantly increased due to inflation by bickering politics, my feedback from the manager is similar to what was stated earlier. Now, my net pay after deductions is LESS than someone who recently started at BOA at minimum wage. Yes, the frustration is extremely mounting. I would welcome a fraction of the pay raise that BM gets each year as it would be a lot more than mine. HR, I hope that you are reading these concerns and some day KARMA will get you back.
It's sad, but the highest merit increase I have gotten over the past 10 years was 1.5% as an exceeds. The Bank, and many other companies, just do not care to reward their employees through the annual review/merit increase process.
Whether or not your manager has much say depends on your Org. In many, decisions come from the top of the house and all final decisions come from HR.
haven't even received a ping about either bonus or merit but, have received multiple emails and pings about work assigned today that needs to be done ASAP
I know it's hard not to take it personally, but the bank's pay isn't great these days and honestly hasn't been for a long time. The severance packages they are paying out for Novembers layoffs probably isn't helping either. Last year, my teammates from a different department didn't get raises. The message was essentially 'good job, keep up the good work,' and since their band level was a 6 and 7 they didn't even qualify for an actual cash bonus of some sort it.
To the OP, your direct manager can advocate but has little to no influence on the final outcome. HR will determine the final numbers irregardless of what is submitted and they are horrendous this year. Worst I have ever seen and understandably a lot of people will be upset.
Do the job you were hired to do and nothing more. Maintain a healthy work life balance, don't let this place stress you, and update your resume and network so you can hopefully land the next opportunity.
The job market is not ideal and a lot of companies are taking advantage of it. Once things improve, agree and believe their will be an exdous of a lot of in house talent.
I hadn't gotten a raise in 4 years despite good reviews. I would get used to this as the norm
I'm sorry to that. Try not to take it personally. I'm sure it's not a direct reflection of the hard work you put in at the bank. I really don't think your manager has any control of the payout since everyone is reporting low bonus amounts. All we can do it dust off our resume and start interviewing OR consider a side business. We can't depend on our jobs alone. Not anymore due to inflation costs.
Any bonus to speak of?