Bank Of America Is Raising Its Minimum Wage For Employees To $20 An Hour

[Eli]

If I was going from $15 to $20, I would be a happy camper (33.33% raise).

 

[Eli]

You can probably add 25% to that $20, maybe 30% on benefits. That's more like $25 to $30 an hour.

Still a 33.33% raise. Round it out to $30 an hour. That's $62,400 based on a 40 hour work week. I wonder how many employees they have making less than $20 an hour. You wonder too if they think healthcare costs is leaving.

 

[Restrain]

Mr. Rex: during the Texas commercial bust, NCNB came into Yexas. Became known as ‘No Cash For Nobody’. I was working for BOA when the merger was being discussed. Employees hoped that BOA would come out on top. When NCNB became the big dog, employees knew that it was a downhill thing for the workers.

 

[Terrel L. Shields]

Mr. Rex: during the Texas commercial bust, NCNB came into Yexas. Became known as ‘No Cash For Nobody’. I was working for BOA when the merger was being discussed. Employees hoped that BOA would come out on top. When NCNB became the big dog, employees knew that it was a downhill thing for the workers.

I remember driving thru Dallas and seeing the big NCNB sign along the Highway across from where I was meeting a client - guy named Townes who was from back east... Good guy, died young of cancer...

There are two big outdoor stores or were. Bass Pro Shop out of Springfield MO owned by Johnny Morris and Cabela's of Nebraska, owned by the Cabela family Cabela stores were highly popular as were Bass Pro but Cabela's sold out to Bass Pro. So the Bass Pro Cabela's store in Rogers near me is going great guns but it is nearly all new staff. An old classmate and friend worked there and on Facebook she reported she had a new job. But she had told me a year or so earlier this was the best job she ever had. She loved Cabela's. I ran into her brother the other day and he explained why. Bass Pro told the employees that they would have to go part time. The best of the bunch quit and found other jobs. Cabela's was full time 40 hour jobs. Bass Pro pays less and works you short of any full time benefits.

My last trip to Bass Pro Cabela's I was attempting to find a particular kind of ammunition. I knew I could order it on line via the site, but the staff was completely clueless and my "help" instead of the mature older people of the past was a teenager After searching for some time he did not even recommend I order it on line. He told me to go to Academy....what? Recommend the competition? So I did and I may not go back to BPCabelas ever again.

 

[ucbruin]

Mr. Rex: during the Texas commercial bust, NCNB came into Yexas. Became known as ‘No Cash For Nobody’. I was working for BOA when the merger was being discussed. Employees hoped that BOA would come out on top. When NCNB became the big dog, employees knew that it was a downhill thing for the workers.

So you too are an ex BofA staff appraiser????


"Employees hoped that BOA would come out on top."
Same here in the Northeast....

 

[Tim The Enchanter]

You can probably add 25% to that $20, maybe 30% on benefits. That's more like $25 to $30 an hour.

Still a 33.33% raise. Round it out to $30 an hour. That's $62,400 based on a 40 hour work week. I wonder how many employees they have making less than $20 an hour. You wonder too if they think healthcare costs is leaving.

Oops forgot to mention. The $20/Hr is no benefits. Buy your own insurance, fund your own retirement account.

 

[Eli]

Oops forgot to mention. The $20/Hr is no benefits. Buy your own insurance, fund your own retirement account.

Idk dog. Ask some of these ex home boys and girls. That's good money. I don't think I have ever done a job for them. I may have. I don't remember. I just know that is one hell of a raise.

A teller making $60K including beanies ain't bad.

 

[J in Florida]

I'm sure BofA is all about their employees and customers interests, right?
It's their fiduciary duty, yes? Just like all the other tbtf companies.
The execs and shareholders can't just screw them over and bank $Millions, can they?

Someone explain to me why they think I am being overly cynical here. It's not a lie or anything. It's a whole mess of them.
Anyway.

I was a staff appraiser at BOA when the Countrywide debacle hit. BOA replaced us who had the unmitigated audacity to comply with laws and corporate directives. So guess what they did? Cut us loose and replaced us with the appraisers that greased the Countrywide fraudfest pole.

So no, you are not being overly cynical, in fact, you're spot on.

 

[RCA]

I've worked long enough as a developer at WF. The whole environment is complex and bureaucratic as hell. MULTIPLE layers of security and authorization. Hard to get anything done. But above all complex - and everything is continually in some stage of transition. Always have to learn new systems. So, just to be a cog in the wheel, takes some education and intelligence, - just to keep yourself afloat and half-way functioning. The old military terms seem more and more to have universal meaning: https://charliecompany.org/2012/11/...ecompany.org/2012/11/26/military-slang-terms/ - FUBAR, SNAFU, TARFU, SUSFU, ....

So, what was the last thing that was all f***** up, oh yea a new centralized security system for authorization and encrypting communications between computer systems throughout the world. Of course, they already had many systems going back decades with different security software, protocol and procedures, old IBM machines, newer PCs, different groups around the country in charge of different systems, and not all maybe not most in agreement with the new system, .... a nightmare, a slow-moving monster. You would train someone on it, but they can't, as it turns out after the scheduled training, for which they had to wait 3-4 months for class, use the know-how because of some unexpected snags, then maybe one - two years ready to try again, but they are gone .... or well, don't quite remember what they were taught. And communication between departments and managers and many other people who don't agree with each other leaves something to be desired.

In appraisal, we need or will need people with a lot of computer and math skills. In fact, those are needed EVERYWHERE, plus application knowledge. And the high schools and colleges seem to be FAR more worried about identity issues and liberal politics than education. So, you get these kids coming out of college with degrees in anthropology, $70K in debt, and not capable of getting those positions that need math and computer skills.

SO, back to the point. $41K for a salary is pretty low for the kind of people they actually need - at least in California.

 

[Carnivore]

About 2.3 million young adults are out of work. "In theory, the path to employment providing financial security in adulthood is simple: finish high school, enroll in and complete college or training that is affordable and a good fit, gain some work experience along the way, and launch a career. But given that 17% of young adults ages 18 to 24 are out of work in mid to large cities in the U.S....this path does not appear to work equally well for all," the Brookings Institution's Martha Ross and Natalie Holmes write in a new report.

Lets not forget that governments have raised the minimum wage in various cities and states.

BOA is crowing about something magnanimous on their part! So they are getting free positive praise by the Fake Media! They look good don't they!

Wrong, they are simply responding to market forces. Unemployment is very low now. They can't get people to work for them at the lowest levels because its more beneficial for those people to work somewhere else. If you work at a branch bank, then you have to dress nicely in appropriate business attire. That cost money from the employee. Mostly women have these jobs as tellers and women's cloths are expensive. They do like the hours, they like the work environment.

Banks exploit everything and everybody! They pay their bean counters handsomely just so they can exploit to the maximum. BOA the last time i checked gave equal amounts of Campaign money to both major parties. Most people don't know that and for a obvious good reason.