Need advice, I got an offer for process design consultant( process engineer) - in Dallas, Texas. 115k, Bonus structure not clear, no signing bonus. What should I counter at? I am not sure band but I think it’s band 5. Masters degree, 6years experience. #finance #bankofamerica #bofa #offer
It’s definitely band 5 Although you should make sure of your band and title. I have been with BOFA for 4 years after my Masters. Pros: Good WLB Con: No growth and pay sucks Be sure of what your priorities are.
Thanks for ur reply! What does the bonus structure look like? It doesn’t seem too defined. And do they offer starting bonus usually?
It really depends on the LOB you join If you are in infrastructure group which doesn’t generate revenue expect 5-7% on good performance
Bonus is discretionary and depends on your work that year. If you are on a large initiative and make substantial contribution and your manager likes you, 10 to 15k is not uncommon. Manager has lot of discretion in pay raises and bonuses. They stack rank direct reports unofficially and distribute the annual pool in a way they see fit.115K for Dallas is good pay. There is never a signing bonus for IT roles. If you are in investment banking or private banking, its a different story.
Do you know the salary range for level 5? And typically how is the work life balance?
BofA salaries are not that great. Everyone is band 5 pretty much. With the rigid culture and plan for office come back 5d/week. It's going to be tough for them to attract talent with good pay.
Ask for default 10% cash back rewards
Is that a standard that they offer employees?
My bad, I thought it was obvious that it is a joke. I am sure they don’t offer that as a benefit. 😅