I have an interview for a Business Control Manager position. I would like to know what the pay band is and what bonus to expect. I’m currently working at a different bank and getting a 20% cash bonus. Is B of A comparable?
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Hired after July 1 on my team and you want a bonus? Honey, I submitted our team's numbers back in Sept right after the U.S . Labor Day. So bupkus for you. Bless your naive heart...
You'd be FAR smarter to negotiate upfront a Salary increase (more permanent) + a Sign On bonus for the $$$ you are walking away from at your current firm. (oh, and inflate that number by 2x at least). Then, make them send you that offer in writing BEFORE you accept. This is standard. You are not asking too much.
Negotiation 101.
You're welcome.
@17sxf+1ussTYgd - a bonus us something that bank employees used to get each year in the olden days when we commuted to work by horse and buggy and retired with a Gold Watch.
(now, "what is a Gold Watch", you ask?) ;-D
What's a bonus??
4K TOPS
Everyone pays better than BOA. Base and bonus.
as a business control manager you should expect no variable compensation (or maybe a token 2k) if you are hired this late in the year.
unless you are the friend of your hiring manager’s boss, don’t expect much more next year. there is little chance for outstanding performance and compensation in the role you are looking at, and you are probably filling a long open position which will do the work of two former people who have already left.
you will not see a 20% bonus in the role you are currently interviewing for
The IRS doesn't care if it's salary or bonus, the same tax bracket applies if you earn 100k from straight salary or 75k salary + 25k bonus. They withhold more from the check because of the larger dollar amount but it doesn't change your tax rate. You'll pay the same amount of taxes in both scenarios - it is settled up when you file with a refund or a tax bill.
100% do NOT believe whatever they tell pitch to you in regards to bonus. It should be criminal what they knowingly lie about when trying to recruit. My advice - make your required base salary = the best year you ever had at your current employer and then add 20% on top of that. For one thing, salary isn’t taxed the same way as a bonus.
do not count on big bonuses, especially for the role you are going for. each year the bonus pool keeps dwindling down. It's so insulting and uninspiring. If you get a great base salary that you are happy with, then I would say come on over. increases and bonuses are very slim and insulting.
"I’m currently working at a different bank and getting a 20% cash bonus. Is B of A comparable?"
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Question is too broad and there are threads ad nauseum ON THIS SITE that you're already on about BofA Bands, Salaries, Bonuses, etc etc etc.
Do some research FIRST and THEN frame your question better.
For salary range, look for similar job postings in states that require the range to be disclosed (CA, NY, CO, etc). In regards to bonus, bonus is not guaranteed and not typically something you can negotiate as part of your offer.