Please help if possible - anyone here who might help me to find out what Bank of America Band 5 Salary is? Any info is greatly appreciated.
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Wall Street Oasis is a much better source than Glassdoor for LOB specific salaries if you’re investment banking/sales and trading
It varies wildly by LOB. Front office is paid more, but other banks’ front offices are paid more than BAML given same title
totally depends on LOB. ISG Band 5 can exceed 200k.
GBAM has investment bankers at band 6 with 200k base and 150 bonus.
once you hit band 5 you get more vacay days (20 plus floater)
band 4 means your annual bonus is bifurcated between cash and stock based on the board's comp committee.
can't speak to band 3 or better as I'm not there yet.
I was making 124,000 before I left as a B5. That was very close to the top of the range I was told.
However, depends on the role I think.
Glassdoor
I agree with the range. It depends on market, job title, lob, 65k-100k give or take
Band 5 VP in GMCA (Marketing) making $87K base and got a $9K bonus in February.
I guess I’ll be capping out soon. I’m at $105k. I thought the band went up to $125k.
BAND 5s (VP) in technology can go much higher than what’s been stated here
Why don’t you ask your manager?
Band 5s can be as low as 55 and as high as low 100s so there’s a range
Band 5 in HCOL area making 90K here. I know some Band 5s who make slightly more but the 109K cap sounds accurate
It depends on job code as well, not just band. If you top out under one job code and your manager wants to keep you, they just change it.
Last I had access it topped out at $109k and that was three years ago. Doubtful the bank had adjusted
In the perfect world one'd be hired in with a band salary level a bit higher than your coworkers but with an equal or lower title. The
current co-workers will be given a greater workload to meet expectations so they can move up in title and possibly equal / exceed your band salary range level.
You will not have another band level raise or title increase until the next recruits come in behind you.
BAC does not like to invest in its employees.
When they lay off your coworkers or you get them fired out of envy then you might be moved up in title or band level pay or you may get sh-- on and stay stagnant knowing you chased the carrot for no reason because they found much greater experience in the new employees they have brought in and you maybe the next one out the door.
You have much greater leverage to partnering with your co-workers as a union to keep your job safe from management. All for one or one for all...