Bank of America Offer (Question about bonus)
Basically received a Bank of America written offer for 100k (Engineer position), and on the phone the recruiter said this position is bonus eligible, but on the written offer, i didn’t see any mention of the bonus structure. Is this typical for bank or America (as in the bonus isn’t in the offer), or did I just get played? This is for an individual contributor role as well.
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Microsoft p<&*y3 Aug 30, 2019
That’s the bad thing about working in banks. There is no target bonus %. Manager can give you 2 exceeds and still low bonus.
Bonus structure is pretty standard. Your org gets allocated a certain amount for bonus, and then managers get to divide the bonuses to their teams how they see fit (see fit being vetted typically by band3s/4s with hr involvement). Each group will typically have a similar average % every year. Ranges are typically 5-15% for ics depending on levels, contributions and teams
Thank you! Bonuses are determined in October right ?
Correct. Normally there's a hire date in sept/oct for eligability. compensation discussions happen around this time but can still be adjusted. Be mindful about transferring teams in the second half of the year because of this.