Skip to main content

Reassured as they may be by the giant pasty face barely stifling a grimace at the top, Bank of America has come to the realization that it’s going to take more than a vague sense of Irish paternalism to keep its people onside. In these days of Great Resignations and irritating competitors dangling flexible work arrangements, it’s also going to take more than that combined with a $750 bonus. So BriMoy is digging deep and offering his lesser charges an incentive to stick around and see what he can do with the place over the next five years.

Bank of America CEO Brian Moynihan said Tuesday the company is for the first time opening up its stock awards program to lower-level employees who make up to $100,000 a year…. At a minimum, that means frontline workers like bank tellers will receive restricted shares that are valued, on paper, at about $2,900 based on Bank of America's current share price of $45.

At the upper end, higher-salary employees would get restricted shares valued at around $27,000…. Bank of America acknowledged the stock awards, along with raising pay for minimum wage workers, are designed to attract and retain talent.

Bank of America is giving workers $1 billion of stock [CNN Business]

Related

Brian Moynihan/Getty Images

Brian Moynihan, Mike Corbat Paid $24.5M, $19M For Overseeing Wall Street’s Worst Banks Of 2020

Sure, things were bad enough for Corbat to essentially get fired, but not bad enough to keep him from an eight-figure payday.

BriMoUnicorn

Bonus Watch '18: Everything's Coming Up BriMo!!!

Granted that his face muscles can still remember how, Brian Moynihan should crack a smile.

Brian Moynihan/Getty Images

Hapless Irish Dad To Remain Hapless Bank CEO For Years To Come

Brian Moynihan is staying put for the foreseeable future.

moynihan

Brian Moynihan Back To Being Brian Moynihan

It was fun while it lasted, though, right, buddy?

Compensation Watch: It Sucked Slightly Less To Be Brian Moynihan Last Year

No cash bonus to speak of, but the li'l fella did get a bump year on year.

moynihan

Compensation Watch ’22: Bank of America

It’s going to cost BriMoy & co. more than a few shares to keep the big guns happy.

Brian Moynihan’s Losing Streak Alive And Well

He's been asked to prepare some remarks re: why Bank of America, in its current form, should exist period.