do you guys think you are fairly paid for your role/band?
$25 by 2025 will be completed sometime next year, and I recall that when it was first announced, I wasn't making anywhere near that amount, despite having been with the bank for at least 6 or 7 years. Minimum when I started was around $10.42 I currently make over that dollar amount, but I know some of my old coworkers are still on that pay increase schedule.
For all entry level positions it's 31.50??
Chase starts at 31.50
For a starting pay rate, that is good money. For a simple job that doesn't require much manual labor. Your hours are pretty flexible and on a regular schedule. You are in a climate controled office. Guaranteed lunch and breaks. If you feel that it's not a respectable rate, then give me a figure that would realistically meet your needs.
If anyone responds, please tell me what your ideal job and starting pay would be. Please take this seriously, I am just curious.
Just su-k it up... Yep, this is a response you do not want to hear. My spouse is approaching 25 years at BOFA and I give the response to hang in there as the end is near. However, the end is becoming more struggling as if BOFA is pushing older employees out the door. Monthly performance reviews with metrics that do not make sense when not applied equally to the team. The manager understands the dilemma. However, upper management have deaf ears to the concerns. Making about $1.50 more than a new hire with no experience, minimum high school education, and no work ethics. It is gut-wrenching for the older employees such as my spouse. To make manner any worse, the health premium for 2025 increased over 75 percent compared to the last several years. It will require at least 4 percent pay raise to make up for the premium increase. Next year my spouse will be taking the sabbatical if the benefit still exists. Unfortunately, the approved timeframe is after the annual performance review with the disclosed petty pay increase (if any). The only question remains is how much notice is required (or recommended) to retire. Two months, two weeks, or two hours!
The bank does not pay internal hires market rate for the same position. I transitioned from one department to another, same band, and got half the salary increase of someone coming in off of the streets. I have stayed due to the convenience the bank has allowed me to have with regards to relocating on 2 occasions to different states (NYC to Charlotte to Virginia). If the position is not providing you with something you can use (skill set wise); does not meet your personal needs and compensation is below market standards you need to move on.
There is no such thing as FAIR, only what you can negotiate for. If you have no leverage (highly needed niche position w/ small pool of qualified candidates or you have connections within the department) then as an employee your options are limited. Just my 2 cents.
Nope - the longer i stay the less I am paid (due to inflation and no meaningful increase)
Gone are the days of making a career in one place (at least not here).
My teammates who have hopped around (or even left BofA and come back) make more.
Pretty soon, the bank will have me paying them for me to keep working here. i am a stupid loyal employee, who obviously valued a steady paycheck more than an increasing paycheck. (face palm sm--k)