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I’m currently a W2 at Wells Fargo, but I was offered a job to work as a contractor at Bank of America. What should I do? Stay at Wells Fargo, or leave to work at Bank of America? Wells Fargo is a terrible place to work, but not sure if BofA is the same. #ui/ux #design
What is the hourly rate at BofA?
My rate is $75. I make $145k at Wells.
Contractors have no benefits, no PTO. Negotiate with BofA for a higher hourly rate to justify the job switch, otherwise you’ll make less
Bank of America seems like the better choice, OP. I’d check the contracting rate and see if you’re W2 or 1099 and go from there. If you’re lucky, you can be brought on FT, which will mean that you’ll convert into a normal salary. Good luck! TC: 90K, on a C2H role that ends this month
Is the Rate C2C or W2 Contract from Bofa Vendor? I worked in BOFA as contractor, FTE. 5 years back W2 rate was around 100+, C2C was 120+
You need at least 100/Hr on contract to make up for the lost benefits and PTO.
Being a contractor is not that bad just create a business like an LLC and have the company pay you through there. Insurance, retirement plans and housing can either be a write off or deduction in the end you might end up paying less taxes and having the same benefits aside from a bonus. I would negotiate the pay some more and see if they are willing to give you 80 ?
While BofA can be very frustrating at times, it is not a terrible place to work. Sure there are bad managers, but overall the org is very good people trying to do the right thing, even if they are extra about it sometimes. With that said, you should absolutely negotiate for the value of your benefits and an overall compensation increase for the move to be worth it. Comp increases are difficult to get at BofA.
What’s your YOE ?
Contractors are the first to go during this type of climate, no way I would leave a ft role for a contract role
This!!!!
Whats wrong with Wells? I work at Bofa. It’s very relaxed.
Also leave a comment on your thoughts. Thanks!