Exceeds / exceeds and got 2% increase and flat bonus. All done being exceeds.
46 replies (most recent on top)
I’m just here, acting my wage!
Expenses, Lower Revenue, Headwinds. All the bingo words used. Ready for my Meets/ Meets year of work, if that.
@3lzj+1qL9q0NS - is manager obligated to tell you that you got nothing? Would su-k sitting around waiting and never getting confirmation of that. Wouldn't put it past management here
B4, m/m , no hike ,1% bonus
PS - after reading some exceeds and the percentages, I am totally comfortable and happy with my decision working at meets meets level :)
In tech. Meets/Meets. 0% increase and 0 bonus. After reading the comments here about salary, I am not surprised. I don't envy my manager for needing to divide tiny pie among a whole family, so to speak, and getting upset with my manager and insisting that I deserve more is not productive.
I told my manager that I am not upset, but I do hope that the bank catches up to inflation and COL increase next year with a much nicer raise for everyone.
My other option is to vote with my feet. The grass is always greener on the other side right? Well, me personally - I'll stay put.
- 5% increase after taking on significant extra work - manager was very uncomfortable getting the words out. Was told this is not performance related. People know when they have done wrong.
I was B5 and left Bank of American few years back for MUFG bank and doubled my salary. Make as much as Bank of America B3 now. Smaller banks pay better.
White, female, B4, work in CLT -
M/M rating - increase 2.7%, bonus same as last year, which was down 30% over previous year…..status quo…. Frustrating to say the least.
A friend got exceeds and her raise was 3.4%…. it’s beans to bust tail for exceeds. After taxes and other deductions, she can now afford a Big Mac more than I can every week.
This place has changed. Too much focus on D&I and many of them are getting our deserved increase and bonuses just to show how inclusive the bank is.
Very tiring to work and know your job and others’ jobs and still get passed over or even recognized for doing work that does exceed.
Too many people just getting a free check and not earning that check. No work ethics. Just a lot of schmoozing, empty talking and D&I to check a box.
So tired.
B5, M/M, 2.6% increase, no bonus, client facing and sooo burnt out. This is my 10th year.
They got the equity they wanted ... everyone seems equally pi---d with management. If my bonus and salary aren't based on merit, I have no reason to work hard or better. No point in sharing any ideas either.
Cogs everywhere rejoice and embrace the equity.
Well if it’s based on DEI, that is racism, and grounds for a lawsuit.
I was told DEI does play a factor. When looking at the comp report, the DEIs had the higher increases.
EVERYONE needs to include their DIVISION, band, title, gender, race, tenure, and whether they manage people. ideally also GEO location.. I am not taking the E/E bait personally, never have, but there is a HUGE difference based on all these factors. Me: GM, Director, NYC, B4, 13 years at BoA, Female, White, and last year graduated with MBA so I got 100% bonus incr and 11% salary incr. I am pretty sure I am now at max range for my band, title, location (I am not client facing) and had warned them with the letters 'MBA' added my street value went up over night. I didn't ask and didn't fight for anything. Also, E/M performance with working only 40 hours a week.... guys...it all depends...
B4 M/M. Base is flat and bonus was down 33%! from last year.
I’m going to redeem my BofA Visa rewards and then close my card account. Will no longer do business with a company that is cutting pay to drive attrition.
M/M. No salary increase and ye bonus same as last year. “They are really focusing on P4P..yada,yada,yada.” We can’t cut in on BM & his cronies bazillion $ bonuses. They dislike competition.
B5 here. M/M netted me a 1.5% salary increase and a 5% bonus decrease from last year.
B4 M/M (learned long ago no reward for E/E, just more work and stress)
Flat salary / Flat bonus (-15% last year, so flat -15% .vs 2 yrs ago)
boss said he was pleased "to be able to keep it flat" and I "should be grateful".
Gee, thanks. BM and his overpaid faking-it cronies really sweated it out for all of us.
Nothing and no word on any increases either here. No excuse offered even for not giving one. Just silence. A good YE convo and nothing like I wouldn’t talk to coworkers or read this board. At least it tells me the truth through all the lying corporate speak. All the fake smiles. Work your but off and try to do the best for not even a respectable excuse? At least I now know why people here say work the minimum and don’t sweat the small stuff and look for opportunity to jump ship. Wells Fargo today announced 1k cash extra bonuses. Time to leave at the first available opportunity with little notice. That is the only way they will see your value cause then they will be racing around to plug the holes created cause you are no longer around to fill them. Just buy popcorn and watch the BoA titanic sink behind you in your department while you float off in your escape ship to another bank.
Band 6 individual contributor- exceeds/exceeds
Flat bonus 16k
2% increase
Boss made it sound like I should be grateful. Annoyed.
B5 M/M 1.7% increase and 4.7% bonus. Basically got the same increase as someone that bust their a$$ everyday.
M/M. 10% down on bonus. Salary up .8%
I wonder if DEI is playing into this …
Can we start posting our race too…
This would be most interesting.
I’m still waiting for my comp convo..I was rated E/M. I had a great year last year 2% and 8K bonus. Wondering what this year will bring.
M/E. 2%increase. Flat bonus, but it’s 25% of what it was 5 years ago. All I can think of is the inflation.
Meets/Meets and flat on salary for the second year in a row and bonus was down 12%. Total comp is now less than it was 2 years ago. I used to be exceeds/exceeds but it’s not worth it. A recruiter reached out today. It could be time to start exploring different options.
E/M - 1% increase in salary ; 1% increase in bonus. I was informed that many team-members have a bonus reduction, which I know to be true. And salaries were flat. How is a minimum of some kind of increase every year not expected if you're average? 2% in an inflationary environment when it doesn't even beat inflation. I thought they said hard work pays off - not that hard work prevents you from losing.
Man oh man, this sounds so familiar... rewind one year and it was the same thing. Raises between 1-2.5%, cut rate bonuses which are down from last year, which were down from the year before, with people being defeated and on their way to quiet quitting. I was one of people posting and I'm soooo glad I left. Bonus at the new company is more in one year than my years combined at the bank, for doing half of the work I used to do at the bank.
I have a side hustle out of necessity because the bank can’t afford to pay.
Meets meets, B4, 2.5% raise (grossly underpaid to start with), exact same bonus as when I was B5…. what’s the point?
Exceeds rating: No increase to base, and a decrease to bonus. Only thing that increased was stress.
Signed,
Battered and defeated employee
6+ years of extremely hard work, total of 2% salary increase over that time. No increase again this year, and bonus amount was cut nearly in half, which was cut in half last year. I have no idea what it takes to get exceeds, much less anything remotely resembling a fair bonus, and no one will tell me. But God forbid I don't come into the office three days a week. My total compensation in 2023 will be less than it was when I started. So I have NO incentive to put in extra work, request additional duties or provide a favorable ESAT this year. It's appalling and totally demoralizing to be employed by NannyBank.
Cut our glorious CEO some slack. I mean he did take a $2 million dollar reduction in salary! How is he supposed to survive on a mere $30 million??
Sigh.
Instead of putting in an extra hours to get an E/E (assuming exempt and not eligible), seems like the more financially lucrative option is to stop at 40 hours and do gig economy work on the side for "bonus" money. Uber, door dash, Lyft, etc for 5-10 hours a week probably beats an E/E bonus over a M/M bonus by a significant margin. Just be sure to submit an OBA and get approval first.
Little point in putting in extra time and effort as it has no bearing on increases/bonuses. We're just faceless cogs; nothing special.
F*ck this place.
15 plus years and there are kids coming in making more. 1% raise and no bonus. But I have stocks coming due in March! What nerve.
exceeds/exceeds requires 50-100% more effort for a few thousand bucks extra at the end of the year. I stopped going for it a while back.
got title promo and M/E. flat bonus (as already down from several years) and 1% increase...
Have a ton more responsibilities now and inflation has ate up my salary.
the term quiet quit has never rang harder.
Yup I got .8% increase and the 5th year in a row of bonus cuts .. I have lost 55% of my bonus .. by year we will all get nothing because there is nothing left to cut