What the…. Does BofA actually value their employees!? Bravo!! WF are you taking notes???
https://www.bankingdive.com/news/bank-of-america-7-rank-and-file-raise-electric-vehicle-thought-leader/624394/#:~:text=Bank%20of%20America%20employees%20who,2021%2C%20the%20wire%20service%20reported.
Didn’t it take 2-3 years to get the so called 50 free WF shares and it equated to just over 1k after taxes??
The article talks about employee RAISES that almost immediately took effect and will have an impact year over year. OPEN YOUR EYES PEOPLE!!
I think you mean 35 shares after taxes were paid on it
WFC did give out 50 shares during the Sloan days.
I did pick up on the F the $100k to $250k miss.
Regardless, this could be good for WFC because BoA is setting the table for the industry. We'll see if others follow suit.
My golden severance would be much appreciated… Stupid me. I should’ve taken that red pill and joined the mortgage group.
@1nld+1is2mHRS “Mouth breather” jobs.
Can’t stop laughing.
We’re missing the point. BofA is doing things to give appreciation to their employees unlike Wells Fargo.
EVs are not practical for everyone. Do you think full-time Uber drivers want to sit in a Walmart parking lot for several hours in between fares just to charge???
@1pva+1is2mHRS The people who saved $100k in gas?
Great, who's gonna pay the $20k to replace the battery when it goes kaput?
4K for buying a EV car? Talk about getting on all 4's and gagging on Woke di-k. The shame of working for a cult suck up.
So basically the core of BoA employees, the $100k-$250k or so earners won't see Jack while they boost the pay of the mouth breather jobs and the executives?
Pathetic.
It said in January it would give bonuses of 65 to 600 restricted stock units — worth between $2,900 and $27,000 — to 97% of its workforce, with the caveat that employees who earn more than $500,000 a year are ineligible.
Two days later, the bank announced a string of compensation boosts for higher-level executives. Namely, managing directors in investment banking and markets would get a $100,000 base salary raise to $500,000; directors would get a bump of $50,000 to $100,000; and smaller-increment raises would take effect down the ladder.
Bank of America employees who earn less than $100,000 a year will receive a base salary raise of up to 7% next month, depending on how long they’ve worked for the company, according to a memo seen Tuesday by Bloomberg. The raises will start at 3% for workers who joined the bank in 2021, the wire service reported.
The Charlotte, North Carolina-based lender launched a separate, albeit niche, perk this week — offering $4,000 in reimbursement to employees who buy an electric vehicle, or $2,000 toward a new lease, Bloomberg reported. Workers with at least three years at the company whose salaries are less than $250,000 per year can take advantage of that benefit starting in July, the wire service reported.
Ha! In that Town Hall Charlie had months ago where the lawyer talked about how we were going to keep the companies we do business with to climate pledges I suggested they give employees EV incentives. Win/win/win - good for the environment, good for employees to help the environment with zero emissions and maybe even good for RTO! I’m sure this is what BoA had in mind.