BOFA COMP THREAD

Question

Comp is today, little thread to see how much we’re being shafted:

Title

Bonus (base)

YoE

Group

LooseGoose · Accepted Answer

This is not true, Ive heard low middle got 0, middle/higher middle got 20-40k

damndaniell · Answer

Left BofA last year and glad I did. It's almost as if BofA could've avoided all of this by getting rid of the dead weight Associates like every other bank on the street did... ~60 Associates in M&A and easily 40+ Associates in many industry groups (bigger than some entire coverage/product teams at some banks btw)... At $175k to $225k a head just to keep the machine on - in this market?

RBOB_squarepants · Answer

Yes that’s precisely what I’m noticing - the market combined with bloated headcount is creating a class of “haves” and “have nots.” A subset of people are on critical accounts, getting cranked, getting good deal experience, but are frustrated by the comp numbers. Another subset of people are not getting deal experience, working on easy pitches, market updates, etc. Their bonus was bad but they’re also working like 9-7 on low stakes stuff and are essentially cruising.

Would note that this is primarily BofA’s fault, not the candidates.

Banker4LIFO · Answer

You are slightly out of touch, also I am a Director not a 1st year A2A. I'm well aware at the end of the day everyone is replaceable. My rainmaker group head  and his immediate subordinate left shortly after I joined the firm. They were replaced, therefore everyone is replaceable. I already have the mindset that I am employed only as long as I am useful and I treat my employer the same way. I will be forgotten by 99% of the people I met at the firm the moment I leave and I will do the same. We all get paid by the same entity, that is largely the extent of our relationship.

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