What are the internal levels for SWE at Bank of America? I've heard people refer to the levels as analyst, AVP, VP, etc. I've also heard band 3, band 4, etc. Could someone with insider knowledge educate me on how SWE levels work at B of A?
Don't worry about title or level just get the best base and bonus
Band levels are the best indicator of seniority; the lower the band, the more senior you are. Bands 1 - 3 are considered executive bands, 4 - 6 are your salaried workers, 7+ are hourly workers. Generally the comp structure changes by band in terms of mix of base + variable as well as how much of the variable is cash vs RSU. Officer titles (VP, etc) are not tied to bands or money. For example, you can be a Band 5 AVP or a Band 5 VP; you can also be a Band 4 VP.
So, let’s say I’m a band 5 AVP. If I were to get promoted, would I become a band 4 AVP, a band 5 VP, or a band 4 VP?
The most likely path would be a Band 5 VP. The lowest Band 4 has a VP title, and it’s unlikely someone would promote a “junior” Band 5 to a Band 4. Keep in mind that promotions also can come in terms of job codes (there are MANY more job codes than bands or titles). So you could be a Band 5 AVP, then get a title promotion to VP, then change to another Band 5 job where you’re managing people vs an individual contributor. The latter move (to manager) would have a pay increase; title promotions are just recognition with no formal pay bump attached.
One thing to add ... you cannot earn a SVP promotion without already being a B4, so there are some dependencies to band and titles. Though minor. Agree with everything else stated. Good luck.
Not true its all org dependent. Often u go from VP b5 to SVP b4. In GTO it can be together or separate more recently I found it to be done more often together. Bofa surprisingly as rigid a firm as they are has lack of strict rules
You don't get good bonus id you are not a band 4. Band 5 bonus is a sham. Band 3 is executive position. Unless you know some one, you don't get a band 3, even if you are qualified. Band 5 is easy. For Band 4, you need to have hot skills.
As someone who went from B5 to B4 to B3, I can tell you that it’s possible to do without knowing anyone.
Why tf would you want to go to BofA?!?
Because I got an offer to be their new CEO. Or maybe I’m just curious about their levels! 😜
I used to be a c1, fintech is garbage, go for faang or maga