Sort of! As you are likely aware, compensation at Bank of Amerillwide was drastically cut last year, to a bottle of Boone’s and one free pass to Angelo Mozilo’s favorite Mystic Tan (it’s got the hottest bulbs). This has been a source of anger for sales employees in Private Asset Management (most especially top earners, as commissions were put in a pool and split evenly, so that “if you made exceptional numbers or if you sucked you got the same bonus”). Apparently after a good deal of bitching and moaning about the situation, BAC decided to make those with “exceptional” numbers feel better about the matter of getting screwed with a little “ego boost.” VP’s became SVP’s and SVP’s MDs yesterday. However, management has apparently failed to inform the promotees as to whether or not the title changes come with a pay increase, or if they’re simply “a pat on the back to make us feel appreciated, which would’ve gone a lot further if it at least came with some freaking Spirit Points (though we all know that ain’t going to happen).”
Comments (31)
Leave a comment
You can log in with your account or comment as a guest below.
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
worst fucking place to work. got laid off two months ago. never encountered a company with such bad morale.
they should consider themselves lucky they got the boone’s.
I heard Charlotte is actually a pretty nice place to live and work.
Houston Analyst
@1, sounds like sour grapes. Think about it while you are feeding pigeons in the park today you loser.
The Guy From Delaware
Houston is better than Charlotte, asshole. Now go fetch me a muffin.
Funny, I got laid off two months ago as well, and up until then morale was pretty good considering the environment.
BTW, BofA got rid of Spirit Points back in February.
@7- no. they got rid of spirit points in january.
http://dealbreaker.com/2008/12/bank-of-america-swaps-spirit-f.php
get your fucking facts straight.
@7- morale was good at bac two months ago? on what planet were you staffed? morale has been absolute shit, not least of all because of the economic climate but because of the MER bull shit, and the fact that every day you were wondering if you were about to get axed.
@8 – From your link: “Associates will have through Feb. 28, 2009 to redeem Spirit Rewards points. Redemption requests made after that date will not be fulfilled.” So I burned the rest of my points in February. Now eat my ass.
@9 – You know there were other parts of the bank besides GWIM. GC&SBB was pretty cheery, despite carrying your failing asses.
Hugs and kisses,
@7
My morale would have been low the second I realized I was signing on as an employee at Bank of America… Why are people arguing over when a job at BAC started to suck? Isn’t that a given?
Morale was good perhaps if you were working as a teller in Dallas. But for those us who were stuck at the imitation investment bank, morale was miserable since Nov. 2007. I haven’t met a single person who left that place (whether willingly or not) who misses it. And I don’t a single person who stayed post merger who wouldn’t leave tomorrow if a half-decent job came along.
@12- yup.
@ all BoA employees,
It could be worse. You could have worked at Lehman’s.
12 No one who left unwillingly doesn’t miss it? That’s a strong statement. Everyplace sucks to some degree. Most in many ways. I can’t believe that its so bad at BAC that its better to have no job at all.
Question:
Where has morale NOT sucked say, for the past 18 or so months?
@14, damn right. When you lose your job at BOFA you will miss it because there are no jobs to be had. Talk to me then you entitled j-offs. You people are the reason people hate wall st.
@analyst– it’s bad everywhere but BAC is the worst. really. worse than citi.
Why all the hate for Charlotte? I like it here. Also, Chick Fil-A is delicious.
@anal_yst – A few smaller places are still v. good. Key was to be in the right spot when the music stopped.
Charlotte is the Harvard of cities in south-central North Carolina.
I live in New Canaan and am better than all of you.
22- living in the bunkers down by the mill pond does not qualify as living in NC.
-Canoe Hill Baller
Healthcare has an awesome staffer, so no complaints here.
IM ON TRYON ON STREET TAKING A SHIT IN FRONT OF THE EPICENTER. SOMEONE GIVE ME A JOB FOR GODS SAKE!
Thank for not referencing me as much lately, everyone!
– Mailroom Guy
Mystic Tan is the spray-on one — that means no bulbs. Surprised you didn’t know that, Bess.
@27- thanks for the schooling on fake tans.
Charlotte is at the heart of the golden triangle of Kannapolis, Rock Hill, and Gastonia.
Charlotte is the armpit of the banking industry.
@30: if America had to take an enema, the doc would stick the nozzle in Charlotte.
(so sorry, Bayonne, NJ!)
@30: if America had to take an enema, the doc would stick the nozzle in Charlotte.
(so sorry, Bayonne, NJ!)