Thread regarding Bank of America layoffs

@288 aren't band 7's mostly customer service reps in the FC and call center agents?

People assume band sevens don’t make as much, but that would be very much incorrect. Some people are categorized as a band seven but in specific roles like they can make upwards of $100k + (as a band 7).

Band 0 also includes several c-suite and DRs, not just CEO.

@119 good for you. You must be Yes-man, Sycophant, Flunky, Bootlicker in the team

@ke I’m band 4, 3 years out of grad school

correction

I think this is more accurate:

0 (zero) is the top band (CEO)
1 C-suite executives and DR of CEO
2 Their DRs (e.g. regional heads), usually EVP or MD
3 SVPs or MDs
4 Jr SVPs, Directors
5 VPs, AVPs; hardworking people who makes this company actually operate
6 Officer;

I think this is more accurate:

0 (zero) is the top band (CEO)
1 C-suite executives and DR of CEO
2 Their DRs (e.g. regional heads), usually EVP or MD
3 SVPs or MDs
4 Jr SVPs, Directors, VPs
5 and below: everybody who makes this company actually operate

@f0+1k74zy66f - a "junior SVP" is what B3 SVP's call a B4 that was given the SVP title.

B4s with SVP title are not "real" SVPs. Sometimes (well, more often now than 10+ years ago), HR allows managers to just "throw the title" at the whiney B4 employee who wants a raise/promotion, but who has not really earned it. (yet)

As managers, we don't want the employee to give up and leave, because we'll never be able to refill the seat. HR will take the headcount away as an "expense save" and the rest of the team then has to pick up the work. (y'all know exactly what I mean about picking up the work when anyone leaves. It sux!)

So we simply throw the empty faux "SVP" title at the B4 to placate them. Most are thrilled to be named SVP, lord it around others, act extra important at meetings and get their name published on the annual list of officer promotions on Flagscape. But unless it comes with a salary/band bump, it really means nothing.

Some of us who earned the SVP title, achieved it, got the promotion -- title, salary AND benefits (including our own office, resent the B4s who carry the SVP title because they act as our equal, when they are not. Still green, not experienced, haven't really proven themselves (yet), etc.

(Sorry, not sorry, but that's how some of us see it.)

@jq Guess again.... I am a B6 with the glorified Officer title and making a buck and quarter more than BOA minimum wage for new hires. Now, I am exercising quiet quitting to bring my performance metrics in average zone instead of above.

That band 7 or 6 probably make more because he's been their more timeeeeee.

@bv+1k74zy66f What is a Jr SVP? Also, Band 1 & 2 are generally C-Suite and Band 2 & 3 are often Managing Directors.

Bands are the salary bands (which overlap). As others noted, each band also comes with a specified vacation period.

On top of this, each Band has several Job Codes (your role/job title) within it -- which vary by division.

And outside of all that, are the "officer" titles. (those are more simple: Officer, AVP, VP, SVP/Director, EVP and completely separate from Bands. These titles are doled out like candy, and sometimes without salary change, because many employees get more hung up on the title and assume the pay comes with it. It may, but not always right away.)

For more money, focus on Band.

The lower band numbers are more senior, :
0 (zero) is the top band (CEO, c-suite)
1 Line of Business executives
2 Their DRs (e.g. regional heads), usually EVP
3 SVPs
4 Jr SVPs, Directors, VPs
5 and below: everybody who makes this company actually operate

@a2 I started as Band 6 with 3 weeks vacation..

Band 5 is salary based and you automatically get 4 weeks vacation.

Band 6 and 7 are hourly positions using workday to clock in and out. You get 2 weeks vacation standard, 3 weeks at 10 years, and 4 at 15 years.