Considering moving from Wells to BOFA. Is there any talk of going from 3 days in-office to 4 or 5? Or is there a required # of hours per day you need to be in office? What else should I know?
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Run
why do you want to move to Band of America? Bank is known for internal politics and backstabbing, less pay, more work
continue with WF for now
I retired in the 2000’s. Getting the package was never an option for those over 55 or so. They just wait you out to retire.
I don’t know what it’s like for young people these days working in IT for BofA. I started in the 70’s. Work was fun and profitable. I contracted at BofA long time (shout 20 years). Eventually joined the bank losing money as I didn’t understand health plan (my bust). But what I know is bank relaxed 5 days in office to 4. For me it became z3 days at home. He thing that didn’t change is what I call “Working you twice, paying you once “. No joke, huge project (iBS) back I guess 80’s, near holidays, woman in charge of project held all hands where she said holidays are year, go ahead scale back your hours to 60 till Jan where I expect you back at 80 hr/week.
Aim for 50% more than your total pay as a Base. Then, be prepared to take 25% over your current total comp.
Come in as high as you can, b/c you will never see another penny again.
Bonus? Fuh-geddaboutit. Bupkus. Goose Egg. (listen to the annual pity party speech by manager, "Expense are up. Economy is tough, uncertain... I did what I could. HR said no. They won't budge. But keep up the great work! Oh, and you need to move so you live near the office and can go in every day."
I think BofA expects more work as my colleagues who went to Wells have a cake walk on actual work expected than they did here.
personally, I wouldn't do it. Find a diff company that will actually PAY you or give you lots of weeks off, flexibility and maybe even WFH.
In office is currently three days weekly… that is three full days not headed home at 2 and logging back in. Recently that has been coming to light so big brother is watching. I have not heard any real talk about making it 4 or 5 but as you know, things like that are likely to change based on market, costs, etc.
Expect your total compensation to decrease each year if you move to BofA.
What ever you do, the total compensation you want, get it as your base salary. DO NOT BELIEVE anything you hear about “pay for performance” or any other BS about bonus potential. It is all a lie, they use it to lure you in and then give nothing but garbage excuses later on. Lock in your desired comp as your base salary. Also better for taxes, as bonus is taxed heavily.
Check the bonus potential. The folks I know at BofA have had some terrible bonuses. I’d want a range locked in.
Wouldn’t know without location provided.