Band level comparison between Bank of America and Wells
I am interviewing for a role at Wells Fargo which would be a Business execution manager title which would manage a team of business analytic consultants. I am an SVP at Bank of America which is Band 4 role with a team reporting to me. I feel my pay is not great at Bofa@140k. I am trying to understand what level would a business execution manager position be at Wells Fargo and what is the salary range that I should be targeting. Is there anything I need to focus on while negotiating Location: Charlotte #finance #bankofamerica #wellsfargo #banking
Thanks for input , appreciate that . Also if you don’t mind , could you help me understand if Senior Lead / senior mgr at wells is comparable to a junior ED or senior VP at say JPmC ? The implication is that a wells director is comparable to a senior ED / junior MD . Is that a fair comparison. In your view ?
Senior lead and senior manager are vastly different function wise you know that right? Pay is closeish but your day to day is wildly different. I don’t know much about JPM but here’s how it typically goes at wells Associate/analyst—>Associate Manager—> Senior Manager —> Director —> Executive —> head of department —> CEO of line of business —> Charlie Sharf (CEO) This is the typical path I’ve seen it to where an associate manager reports into another associate manager who reports to a senior manager. I’ve also seen it where a senior manager report to another senior manager. Wells doesn’t advertise VP titles nearly as much as BoA and JPM.
What is the title I will tell you the pay range?
This is great insight , appreciate it .
Np if you haven’t applied yet lmk if you want a referral.
I feel bad to be dumping on Wells here but , now I know why I am not alone in doing that on blind . They basically reached out to me with the senior lead role which explicitly stated the comp range till 287k , then interviewed me for 4 rounds over 2 months and then took a month to roll out an offer . All along I was told they totally loved the background and how they had been keeping the req open since Jan to find the right fit etc etc The head of dept asked me about comp twice and I told him I needed to be around 300 for TC including all . They offered 205 , with 15-20% bonus and no joining and to my shock refused to go even a penny above . I had countered at 275 because I felt like a strong candidate based on the above and was willing to settle around 250 , but zilch . After wasting everybody’s time for 3 months the offer was rescinded in 2 days!! . I am happily walking to my competing offer at 250k$ . Good riddance !
I’m surprised they wouldn’t negotiate. But the offer was right in line where I told you’d it would be. Sorry it didn’t work out. Pay at wells is consistently below average so not surprised you got something better. Good luck with the other company!
@Acctg ricyrbgi --- Can you pls provide what the salary range is for a Senior Systems Architect role at WF (Location: Charlotte/Raleigh, NC). Thanks!
Wells does not use a band system like Bank of America. While we do have job levels they are not used like how BofA uses them and are only used by HR. As for salary ranges (will vary depending on location) Business Execution manager: 96,600-171,800 Business Execution Senior manager: 120,400-250,000 Negotiate Negotiate Negotiate Negotiate I have heard many different things on how they set their offer. My offer was barely above the minimum. Others have mentioned their first offer is much closer to the mid-point.
Yes they will pay out above the midpoint if they liked you. I’ve heard of offers going out just below the maximum.