Got an offer from BOFA. It's a front office trade strategist role. In the offer letter they mentioned only the base component, but as per the hiring manager, I can expect a 70-80% bonus on top of base. Not sure why they are not putting the bonus component in writing. Base: 225K ##engineering
yoe and level and location?
First, and this goes for any org not just BofA, don't count on anything unless it is in writing. Not saying the supervisor isn't correct, but a lot of things change between when the promise is made and the bonus pool is set. This sounds like an NYC based role? If so are you ok living in NYC on that base? An important question to ask is what has to happen for your base to go up? If you're at the top of a band, it could be really difficult to get any base increase at all. Please share the level of the role: director, VP, or AVP and we can better advise
What level is this?
Looks like a VP. Bonus is not written in black and white because it's based on your trading desk's performance.
Ask for bonus in writing. Usually if you join after mid year you may either not be eligible for bonus or it will likely be prorated. The manager may be talking about general numbers but for new joiners rules are different unless they are specified in the contract.
225 sounds like a VP level to me. Usually there is only one base number at a level but bonus varies. for example for directors the base is tagged at 300 but bonus can vary a lot.
Congrats! What kind of skills and qualifications are required for a role like this?