Business Support Manager Salary Bank Of America
Business Support Manager Salary Bank Of America – Bank of America average salary of $53 per year in 211 To create our salary estimates, start with data released from publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), the Foreign Worker Certification Data Center (FLC), and others
Bank of America pays the lowest earners $26,000 a year, while the top 10% of earners pay more than $107,000 a year.
Business Support Manager Salary Bank Of America
Bank of America employees are paid differently for different jobs. In engineering jobs, employees earn an average salary of $99,334. In marketing jobs, the average salary is $81,382.
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Due to changes in the cost of living, location affects how much Bank of America pays its employees. Bank of America has the highest-paid employees in New York City, N.Y. and Jersey City, N.J.
While the average Bank of America employee salary is $53, $211, pay varies widely depending on the role. Some of the high-paying jobs at Bank of America are Vice President of Finance, Advisory Systems Engineer, Banking Center Manager, and Senior Software Engineer. The typical annual salary for a Bank of America VP of Finance is $121,014. Some of the other roles at Bank of America are cashiers and data entry clerks. A worker with a teller title at Bank of America earns an average annual salary of $32,920.
Bank of America’s competitors include Merrill Lynch, American Express and Western Bank. Merrill Lynch employees earn more than most of its competitors, with an average annual salary of $87 to $121. Employees at American Express make an average of $86,421 a year, and employees at Western Bank make an average of $83,013 a year.
It’s no secret that workers are paid differently in different parts of the country, as the cost of living can be much higher in some areas. At Bank of America, employees are paid differently based on their location. Our data shows that Bank of America employees in New York, NY are the most paid, with an average annual salary of $68,810. This can be compared to the average salary of a Bank of America employee in Jersey City, NJ, which is $67, 302.
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Bank of America salaries may vary by department or organizational function. Employees working in engineering organizational functions are the highest paid at Bank of America, with an average annual salary of $99,334. Employees working in the marketing department also earned relatively high wages, averaging $81,382 per year. At Bank of America, the organizational function with the lowest salaries for employees was retail, earning an average of $35,715 per year. Customer service is the second-lowest paid organizational function at Bank of America, with employees earning $37,669 a year.
No, Bank of America doesn’t pay well. Compared with the industry average of $60,425 per year, the average annual salary at Bank of America is $53,211, which is 11.94% lower.
Bank of America pays an average of $53,211 a year, while Wells Fargo pays $41,599. Bank of America pays $25.58 an hour, while Wells Fargo pays $20.00 an hour.
Dive into Bank of America details, including salary, political affiliation, employee data, and more, to educate job seekers about Bank of America. Employee data is based on information provided by individuals who report past or current employment with Bank of America. The data on this page is also based on data sources collected from public and open data sources on the Internet and elsewhere, as well as proprietary data that we license from other companies. Data sources may include, but are not limited to, BLS, company filings, estimates based on these filings, H1B filings, and other public and private datasets. While every effort has been made to ensure that the information displayed is correct, we cannot be held responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Bank of America. The data provided on this page do not represent Bank of America, its employees or .
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Share All share options below: Bank of America is giving tellers a big raise. This is not out of generosity.
Bank of America Financial Center Manager Tesh Patel checks with customers in the lobby of a Denver branch on April 27, 2016. Andy Cross/The Denver Post via Getty Images
Bank of America announced Tuesday that it will raise the starting salary for Bank of America employees to $20 an hour over the next two years, a sharp increase from the current $15 an hour. The change will primarily benefit bank tellers and those in other low-paying positions among the company’s 200,000 employees. The first raise will take place on May 1, and the minimum wage will rise to $17 an hour.
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The move follows similar changes at competing U.S. banks, which have added new jobs for the first time in a decade. Bank of America said Tuesday that the raise is a way of thanking employees for their hard work, and while that may be true, the reality is the bank needs to raise wages to keep growing.
After years of budget cuts, Wall Street banks are now on a hiring spree, opening dozens of new branches across the country to attract new customers. But they are competing for the same group of available workers amid a national labor shortage. Job openings in the financial industry are more difficult to fill than in most other industries. In 2017, the finance and insurance industry filled only half of all open jobs — the worst result of any major industry, according to the Labor Department.
Right now, there’s a lot of demand for low-skilled workers, the type of workers Bank of America and JPMorgan Chase need to staff all the new branches they plan to open across the country. They have no choice but to raise wages. The question, however, is whether they provide enough services to attract people into the workforce.
Analysts have long warned of the end of bank branches, where customers show up on cash checks. They argue that the rise of online banking and the spread of ATMs will eventually put tellers out of a job. However, that’s not the case — at least not yet.
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About 2.1 million people work in banks nationwide, according to the Federal Deposit Insurance Corporation, a number that hasn’t really changed over the past decade. It’s true that banks have closed hundreds of brick-and-mortar branches, but now they’re also trying to open new branches in long-neglected areas, such as predominantly black and Latino communities.
JPMorgan, the largest U.S. bank by assets, is expanding nationwide, with plans to add as many as 90 Chase branches in nine major cities. Most will open in Washington, D.C., and about a third of them will be in low- and moderate-income neighborhoods. As part of the expansion, the bank expects to hire about 700 people in the capital region this year.
In November, the bank pledged to pay bank employees in Washington, D.C. at least $18 after raising the minimum wage for all employees to $15 an hour in January 2018. SunTrust and Comerica Bank also raised wages to $15 an hour last year, citing record profits from recent corporate tax cuts.
Bank of America is also working to expand into new markets. The company said last year that it planned to open 500 branches across the country, including in areas such as Cleveland and Lexington, Kentucky. The bank said the expansion would add 5,500 jobs in the local market.
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Banks are doing more than raising wages. Last year, Bank of America extended paid parental leave for employees from 12 to 16 weeks, and the company did not raise health insurance premiums for employees earning less than $50,000 a year.
All of these new benefits for minimum-wage workers at the nation’s largest banks point to a broader trend in the U.S. economy: Workers have more leverage than ever before.
For a long time, American companies can be picky about who they hire. They don’t have to work too hard to find workers, as more than
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