For tenure employees such as myself, I did not get $20000 raise collectively since 2017. As of right now, my pay is a little over a dollar more than minimum. Yes, I am bitter and BOA can careless. After reading the Employee Communications, BOA only cares about new hires as they begin their "meaningful journey". What about existing employees with 25+ years at BOA, what is the "meaningful journey" for them? The pasture? It sure looks that way. I know that there are many B6's such as myself in the same situation. How do you cope with the news? I am at the point of retirement with no notice.
18 replies (most recent on top)
@ky The will for sure retaliate against you and your manger will know you called right away.
Yepp.. Been there 5 years. Every time I get a raise and the min wage goes up since 2020, I lose my raise and it's set to minimum across the board. I been making the same thing as the people that been walking in the door for 5 years now. It's not fair that I worked there 5 years and make the same as those who just got hired this year. It sickens me. I can't imagine how badly you feel at 25 yrs. I and the people who got hired with me noticed how they give preference to the new hires and the new hires getting boosted up into higher positions within 1 year of not even being there. Yet we still can't get anywhere. It's sick.
@kq “it’s not fair”. Boo hoo. Grow up.
I got a 1.1% raise last year and I bust my a$$ every day doing the work of 3 people! This company is a dead-end.
@m3 HR and the COO teams are there to enforce whatever management’s priority du jour is. They’re virtually unchecked and unaccountable, which management tolerates in exchange for relying on them as eyes and ears while the FOBs play politics with each other and pay themselves millions.
I wouldn't contact HR even if my manager locked me in a closet and beat me up they would find a way to blame me.
HR is there to protect the company not you
@kq What HR? The same HR that responds back to you to discuss concern with your manager. Afterwards, the manager knows that you contacted HR and then does the silent retaliation. Employees in the building hear and sees what goes on in individual groups and learn from not repeating the same mistake to contact HR. HR is not a good option.
This concern about minimum wage for new hires affected many tenure employees for several years and HR did nothing to mitigate the circumstances. As OP stated, BOA can careless about tenure employees.
@OP Reach out to HR and explain your situation if you have been working for the bank for years. It is not fair so make your case.
The post repeatedly says that it's a great starting point for new hires. Not sure why they feel the need to post it to current employees. It seems like they're responding to all of the people who complain that they're making the same as a new employee with no experience. Their solution is to climb the corporate ladder but not everyone can be a manager. It's discriminatory towards people who don't have the ability to jump from job to job for myriad reasons. Still don't understand why that's encouraged so much. What the announcement doesn't say is so much louder than the actual statement. "We know some of you can't advance further and we're going to stick it to you because we have zero integrity"
@c4 you're up here with a stank a-s attitude. You must be a B7 and can't get promoted since you su-k
@aq trust me you are just another clueless B6 I've had the misfortune to come across. Feel free to keep telling yourself what you want to hear.
@OP I agree that these announcements are horrible for people who have experience & have stuck around! Definitely does NOT pay to be loyal! I probably should have left ages ago - they say that’s the best way to get a good pay bump - but being so close to retirement age, doesn’t seem worth the hassle now….
I think I put something like this on last years survey “what about the rest of us that make more than your $23 minimum, and are lucky to get a 2% raise with an Exceeds?!” Clearly the company doesn’t care. Sad for all of us ( except the young new hires, like you said)
@ag Bingo. The tens of millions of dollars that the executive team and Board pay themselves and “friends of Brian” are the reason that there’s not enough to go around. Brian: $30M, DeMare: $22M, Koder: $17M, Alastair: $13M. This is just the tip of the iceberg and what the bank HAS to disclose. But others in the “Boston mafia” and FOBs are taken care of, regardless of business performance.
Let’s not begrudge regular employees who are getting a few extra bucks so that they can try to keep up with COL increases and absurd healthcare premium increases.
@ag Apparently you are not a BOA employee. If you knew about employees at the B6 level, you would know about the pay and the so called stock options. And I wasn't referring to the ones in the rewards for success. As for "inside trading", you would be referring to the higher band levels. At any point how were the new hires blamed? Was it from a national perspective or from the company's?
Blaming the new hires instead of the CEO, cronies, their pay and stock packages in addition to the inside trading shows me tenured employees scr*wed themselves.
The bank is telling you what they expect from you. They want $25 worth of potential/new hire energy and, in my case, 53 cents worth of many years of expertise. The bank taught me to undercut and do the bare minimum so I try to give even less than the 53 cents worth
I started with the bank in 2012 and was making $10.32 at the FC. I was a promoted to assistant manager 6 years later and made 21.00 but they took away our ability to hit bonuses. Now that minimum is $25.00 all of those tenured employees are maybe like you making a dollar or two (if they're lucky) difference than new employees.
It’s stinks. Don’t forget to check your medical for the “nominal” increase. The “benefits” cost more than what’s availability to the general public on the street. I can’t afford anything never mind medical.