What’s the pay range for a band 3 role at Bank of America? I recently received an offer for $250 base and I believe bonus is around $100k from what HR hinted at. I looked online and it seems the average band 3 pay is around 300k but the information available is very thin so I would appreciate any insight. Are there any perks with being band 3 besides unlimited PTO? What do you think the max signing bonus could be? In a MCOL city.
I am in data science/analytics not IB or anything fancy.
Chief
So just to leave an update I was able to get it up to $50k for the signing bonus but I don’t know the max but now we have this data point on the site
Chief
Haha they didn’t have a choice it was either to give me a 400k starting package or I would walk. I had another offer for an IB role that was 250 base and last year it paid a 120% bonus so they had to pay up to make it worth choosing then so that 100ish I am losing out on is for me to have good WLB since the other one had insane hours or I could have continued looking for a remote tech role which would have been around 450-550 also
Pro
Well if it makes you feel better I’m at 130+ 20k bonus Band 4 and now I feel poor. 🤣
Rising Star
You may need to hop around a bit I hopped from wells from 130k comp to BofA to jump to 195 then back to Wells one year later for 250 now I’m looking for 350 2 years later
I tried to stay in BofA but I could get more pay at the time and the same here at Wells unfortunately
The max pay for band 5 VP is around 130k and usually when you go from band 5 VP to band 4 VP the pay should be increased to 145-150 base. Your manager needs to fight harder for your comp or you gotta get it elsewhere
I asked my boss for 50k more a few weeks back and he said no for 1-2 years which is why now I’m here looking 😂
I think this is more than fair for a B3. I know a lot of folks at the 190-215 range.
Chief
Thanks! And for base or total comp?
Wow I'm a band 5 VP over 15yrs and only under 70k in PB in so cal... how are people getting paid this much with bofa, what regions?!
Thanks! Yes I use Tableau regularly and SQL and Cognos including many other accesses that not even tech or client teams utilize or have ability to gain we have. I'm actually in the PGA for POC for processes and procedures among other large projects I'm known for on a national level, if it helps to gauge I'm in Fid Sol and work directly with client teams, managing directors and B3s, BSMs, and other Strat teams including for ML as well to name a few. We were also always 50% WFH before covid as well.
I have a management "style" position as I am not micro managed, have no direct reports locally any longer since we work independently of one another in my group and there's roughly under 10 of us in this specialty team. I originally came in as officer level yrs ago and then kept moving up. I have applied for quite a few B4 or B3 roles like a business support manager role (next usual role) and I'm never even considered for them, other's have told me its because I have the most experience and they cant lose me due to various factors right now that are not my fault. And pay had been an issue since I was brought in and my direct reports at the time never adequately gave me significant raises since 2015 because he claimed budget was "strapped" and this new manager for last few yrs has pulled the same thing. The large pay increase that was done in June was the largest 7% raise I have gotten since 2015 and I was never even told how much I had to call HR on my own to find out from them due to lack of communication with my "manager".
Which has made me wonder if the can block you to move around internally? And I don't mean if you have a bad review, because I've never had a negative one in 17yrs total.
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Rising Star
Thanks for your valuable insight 😊😂
What level role is it? Congrats!
Unfortunately not aware, I work for a smaller public company ($3m market cap), haven’t been in banking / funds in awhile
Does any one know the Comps for Senior Business Control Specialist
BOA at Plano Texas. 5+ Risk Management Exp preferred
Sr Bus Control Spec low end may start in the high 60s. Depends on your LOB, location and experience.