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Bank of America salaries
Bank of America salary estimate
$53,211yearly
How much does Bank of America pay?
The average Bank of America salary in the United States is $53,211 per year. Bank of America salaries range between $26,000 a year in the bottom 10th percentile to $107,000 in the top 90th percentile. Bank of America pays $25.58 an hour on average. Geographic location also impacts Bank of America salaries. Bank of America employees in New York, NY get paid the most.Highest paying jobs at Bank of America
The highest paying jobs at Bank of America are finance vice president, consultant systems engineer, banking center manager, and senior software engineer. Finance vice president jobs at Bank of America earn an average yearly salary of $121,014, Bank of America consultant systems engineer jobs average $111,949, and Bank of America banking center manager jobs average $110,967.
The lowest paying Bank of America roles include cashier and data entry clerk. Bank of America cashier average salary is $32,920 per year. So while the average Bank of America salary is $53,211 there is a big variation in pay depending on the role.
Highest paying jobs at Bank of America
| Rank | Job title | Average Bank of America salary | Hourly rate |
|---|---|---|---|
| 1 | Finance Vice President | $121,014 | $58.18 |
| 2 | Consultant Systems Engineer | $111,949 | $53.82 |
| 3 | Banking Center Manager | $110,967 | $53.35 |
| 4 | Senior Software Engineer | $108,022 | $51.93 |
| 5 | Senior Java Developer | $107,388 | $51.63 |
| 6 | Support Lead | $99,278 | $47.73 |
| 7 | Lead Operator | $94,902 | $45.63 |
| 8 | Technical Associate | $91,765 | $44.12 |
| 9 | Assistant Vice President Operations | $91,755 | $44.11 |
| 10 | Account Executive | $81,313 | $39.09 |
| 11 | Team Leader | $76,207 | $36.64 |
| 12 | Business Analyst | $75,436 | $36.27 |
| 13 | Customer Relationship Manager | $75,348 | $36.23 |
| 14 | Fraud Analyst | $59,276 | $28.50 |
| 15 | Finance Advisor | $56,790 | $27.30 |
| 16 | Operation Supervisor | $56,175 | $27.01 |
| 17 | Mortgage Underwriter | $55,615 | $26.74 |
| 18 | Specialist-Small Business | $49,579 | $23.84 |
| 19 | Service Specialist | $40,956 | $19.69 |
| 20 | Loan Processor | $39,837 | $19.15 |
Rate Bank of America's promotion and raise policies.
Average Bank of America salary by state
Bank of America pays the highest salaries in New York due to higher costs of living and competition in the state.
| Rank | State | Average Bank of America salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $68,696 | $33.03 |
| 2 | New Jersey | $67,196 | $32.31 |
| 3 | Massachusetts | $65,935 | $31.70 |
| 4 | Connecticut | $64,415 | $30.97 |
| 5 | Rhode Island | $64,185 | $30.86 |
| 6 | Delaware | $61,688 | $29.66 |
| 7 | Maryland | $61,048 | $29.35 |
| 8 | New Hampshire | $60,719 | $29.19 |
| 9 | Pennsylvania | $59,966 | $28.83 |
| 10 | Virginia | $59,965 | $28.83 |
| 11 | California | $58,923 | $28.33 |
| 12 | Washington | $56,934 | $27.37 |
| 13 | North Carolina | $56,855 | $27.33 |
| 14 | Illinois | $55,302 | $26.59 |
| 15 | Michigan | $55,113 | $26.50 |
| 16 | Florida | $53,791 | $25.86 |
| 17 | Georgia | $53,735 | $25.83 |
| 18 | Oregon | $53,071 | $25.51 |
| 19 | South Carolina | $52,981 | $25.47 |
| 20 | Texas | $52,790 | $25.38 |
How much does Bank of America pay by location?
Highest paying Bank of America locations
| Rank | Location | Average Bank of America salary | Hourly rate |
|---|---|---|---|
| 1 | New York, NY | $68,810 | $33.08 |
| 2 | Jersey City, NJ | $67,302 | $32.36 |
| 3 | Boston, MA | $65,941 | $31.70 |
| 4 | Washington, DC | $65,689 | $31.58 |
| 5 | Hartford, CT | $64,457 | $30.99 |
| 6 | Newark, DE | $61,712 | $29.67 |
| 7 | San Francisco, CA | $60,230 | $28.96 |
| 8 | Richmond, VA | $59,516 | $28.61 |
| 9 | Seattle, WA | $57,186 | $27.49 |
| 10 | Charlotte, NC | $55,885 | $26.87 |
| 11 | Chicago, IL | $55,526 | $26.70 |
| 12 | Jacksonville, FL | $53,663 | $25.80 |
| 13 | Atlanta, GA | $53,400 | $25.67 |
| 14 | Addison, TX | $52,223 | $25.11 |
| 15 | Denver, CO | $51,928 | $24.97 |
| 16 | Las Vegas, NV | $51,184 | $24.61 |
| 17 | Phoenix, AZ | $51,072 | $24.55 |
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Bank of America salaries by department
Salaries at Bank of America vary depending on the department you work in. Bank of America salaries in the engineering department are the highest with an average salary of $99,334. Employees in the marketing department at Bank of America receive relatively high salaries as well, with an average salary of $81,382 per year. Departments that don't pay as well at Bank of America include the retail and the customer service organizational functions, with employees earning average salaries of $35,715 and $37,669, respectively.
Average Bank of America salary by department
| Rank | Department | Average Bank of America salary | Hourly rate |
|---|---|---|---|
| 1 | Engineering | $99,334 | $47.76 |
| 2 | Marketing | $81,382 | $39.13 |
| 3 | Plant/Manufacturing | $78,614 | $37.80 |
| 4 | Business Development | $76,130 | $36.60 |
| 5 | IT | $74,216 | $35.68 |
| 6 | Sales | $54,404 | $26.16 |
| 7 | Finance | $53,395 | $25.67 |
| 8 | Administrative | $40,710 | $19.57 |
| 9 | Customer Service | $37,670 | $18.11 |
| 10 | Retail | $35,715 | $17.17 |
How much does Bank of America pay by department?
Best paying Bank of America finance salaries
| Rank | Position | Average Bank of America salary | Hourly rate |
|---|---|---|---|
| 1 | Consultant | $83,460 | $40.13 |
| 2 | Finance Center Manager | $72,075 | $34.65 |
| 3 | Claims Analyst | $71,867 | $34.55 |
| 4 | Investment Advisor | $69,305 | $33.32 |
| 5 | Wealth Management Internship | $60,556 | $29.11 |
| 6 | Fraud Analyst | $59,276 | $28.50 |
| 7 | Senior Underwriter | $58,190 | $27.98 |
| 8 | Finance Advisor | $56,790 | $27.30 |
| 9 | Branch Manager | $56,338 | $27.09 |
| 10 | Mortgage Underwriter | $55,615 | $26.74 |
| 11 | Banking Associate | $52,171 | $25.08 |
| 12 | Specialist-Small Business | $49,579 | $23.84 |
| 13 | Personal Banking Officer | $49,470 | $23.78 |
| 14 | Foreclosure Specialist | $47,394 | $22.79 |
| 15 | Loan Processor | $39,837 | $19.15 |
| 16 | Post Closer | $39,473 | $18.98 |
| 17 | Loan Officer | $38,812 | $18.66 |
| 18 | Mortgage Service Specialist | $38,142 | $18.34 |
| 19 | Personal Banker | $37,619 | $18.09 |
| 20 | Relationship Banker | $36,547 | $17.57 |
Best paying Bank of America retail salaries
| Rank | Position | Average Bank of America salary | Hourly rate |
|---|---|---|---|
| 1 | Team Manager | $67,972 | $32.68 |
| 2 | Assistant Manager | $59,263 | $28.49 |
| 3 | Operations Team Leader | $50,090 | $24.08 |
| 4 | Teller | $33,564 | $16.14 |
| 5 | Cashier | $32,920 | $15.83 |
Best paying Bank of America customer service salaries
| Rank | Position | Average Bank of America salary | Hourly rate |
|---|---|---|---|
| 1 | Support Analyst | $71,442 | $34.35 |
| 2 | Client Manager | $63,935 | $30.74 |
| 3 | Support Associate | $55,367 | $26.62 |
| 4 | Service Specialist | $40,956 | $19.69 |
| 5 | Customer Assistant | $36,802 | $17.69 |
| 6 | Operations Representative | $35,076 | $16.86 |
| 7 | Retention Specialist | $34,773 | $16.72 |
| 8 | Customer Service Representative | $33,208 | $15.97 |
Bank of America competitors’ average salaries
Average salaries at Bank of America competitors, like Merrill Lynch, American Express, and Bank of the West, vary. Merrill Lynch employees earn the highest salaries, with an average yearly salary of $87,121. The average salary at American Express is $86,421 per year, and the average salary at Bank of the West is $83,013 per year.
Highest paying Bank of America competitors
| Rank | Company name | Zippia score | Average salary |
|---|---|---|---|
| 1 | Merrill Lynch | 4.9 | $87,121 |
| 2 | American Express | 4.8 | $86,421 |
| 3 | Bank of the West | 4.7 | $83,013 |
| 4 | Citizens Financial Group | 4.3 | $75,737 |
| 5 | Citi | 4.6 | $75,483 |
| 6 | JPMorgan Chase & Co. | 4.8 | $73,946 |
| 7 | Capital One | 4.7 | $61,566 |
| 8 | Discover | 4.4 | $61,535 |
| 9 | USAA | 4.7 | $59,089 |
| 10 | KeyBank | 4.4 | $56,777 |
| 11 | MetLife | 4.4 | $52,477 |
| 12 | Fifth Third Bank | 4.6 | $48,033 |
| 13 | Regions Bank | 4.1 | $47,661 |
| 14 | U.S. Bank | 4.6 | $46,793 |
| 15 | M&T Bank | 4.7 | $45,852 |
| 16 | SunTrust | 4.9 | $44,515 |
| 17 | Wells Fargo | 4.6 | $41,599 |
| 18 | BB&T | 4.8 | $40,025 |
Recently added Bank of America salaries
| Job | Location | Date added | Salary |
|---|---|---|---|
| Vice President/Investment Banker | Chicago, IL | 12/18/2024 | $275,000 |
| Global Markets Risk SR Manager | New York, NY | 12/17/2024 | $138,000 |
| Wealth Strategies Advisor | Melville, NY | 12/16/2024 | $200,000 |
| Community Lending Officer | New York, NY | 12/16/2024 | $56,286 |
| Group Operations Manager | Jacksonville, FL | 12/16/2024 | $100,000 |
What employees say about salary at Bank of America
Meeting new people and making financial lives better
Management is horrible, they are racist and instead of working with current employees they hire new employees with no experience and better pay. I also hate employees pay raise is based off a manager so if a manager doesn’t like you you don’t get a raise
Benefits
Personally don’t know him
A lot i would even change the name we need a more diverse culture and setting
I prepared by learning the company and also studying the company important facts before my interview started i also was myself
I believe me and a few others are the lowest paying banker other companies pay way more save your time if you want to succeed
Failure there’s a stereotype that’s required
Some co workers
Great benefits, pretty good support, good pay, good management, and lots of opportunities for growth
work life balance of a call center job can be stressful
Best health benefits I've ever had and feeling rewarded for hard work
great benefits.
Terrible leadership who put you down. Some of the goals work against each other, i.e teo individuals in the same branch with different roles have opposing goals. They say it is a team environment but the company incentive system is set up other wise.
None worth working here.
Ask people questions about how to deal with problem solving during the interview. Try to find people who want to be there and who can solve more than surface level issues before they are hired. Lots of incompetent workers right now.
I didn’t.
Kept benefit prices stable.
They will not give you fair rasies once on board but if you quit and rejoin, you can get better pay.
Very diverse, sometimes they will hire people who don’t speak enough english when role is client facing. Can create obstacles.
Leaving for the day. Enjoying closing a sale.
the goals working there
loved working there
money and benefits were the best part of working there
Learning and convenient locations
Management sucks, is the lowest
Training ability to learn more
Nothing mediocre at best
Do a overhaul on titles
By researching the company title and pay for the industry
Same
Did a great job
Knowing I'm assisting someone and contributing to their positive experience
Successfully developed and managed an in-house process to collect employee payroll information.
After receiving numerous "job well done" comments from department employees, Manager came out of a meeting and physically hit me in the head with a folder full of papers and ran and locked herself in a conference room. I informed the right people and was told to go home for the rest of the day! Two days later I received a call from HR informing me that I was terminated. WOW huh...... I suffered after being terminated and I have yet to forget what happened.
Didn't have a chance to get perks or benefits. If you are curious about ALL the facts, I can be reached at deb.a.boles@hotmail. com. I hope this incident never happens to anyone else..!
People customer service position is the in my world
Nothing very great job nice great environment
Pay was great and bonus
Benefits
Work in office building there isn’t a hybrid option.
They help with everything
There are lots of opportunities to grow. Very good benefits and the company values work life balance.
Pay could be better
Healthy work environment
The support from fellow staff members.
Lower that normal pay and the high goals set.
The cafeteria located in the building.
The customers
Not a good team environment or lack of morale amongst the team
Health insurance
Great benefits, opportunities out for growth
The pay isn’t the greatest with consideration to work load
Health insurance
Diverse community in the work environment
Nothing, it is a great company to work for and build your professional career.
Insurance
Some flexibility with work home life
Lack of guild lines in some departments
Pay and Benefits
Excellent Training
Managerial Staff lacks training
Accuracy over quantity and double checking, proof reading legal documents
Pleasant atmosphere
Work life balance
Benefits and perks available upon hiring
Work life balance. Great benefit package. Friendly
Not a whole of upward movement in my current role
Time off, healthcare and flexibility
My benefits
Management not have the answer to my questions
Health insurance
Bank of America is full of great culture
It is very hard to get a Hard to get a raise here.
Health benefits are a plus and I also enjoy the extra training
Great work life balance. Good benefits, and CEO is understanding and makes timely changes for the better.
Comparatively speaking salary is not amongst the highest although we are one of the biggest banks. Total comp can be good.
Being able to use sick time as vacation time.
Benefits packages were the best in the industry
Rigidity of schedule rules and regulations
16 weeks paid parental leave
Ability to work in different lines of businesses
Micromanagement
Employee benefits
Opportunity for growth, ideas can be shared, advanced technology
No work from home flexiblity
Benefits.
Being an independent contributor and the care and safety they take with their employees and clients.
N/A
Excellent benefits, inclusive environment, great people to work with, and many opportunities.
No flexibility on work from office and colocation stance even though in reality you work with people across the country and the world when completing projects. They offer little support to no support learning opportunities outside of a traditional college or university setting.
Health benefits
People are overall quite nice and helpful
Decisions could take a long time to make
4 months paid maternity/paternity leave is awesome
Benefits, federal holidays, variety of tasks, I use my hands but also my brain
Rude customers, sales, being in management
Federal holidays
Excellent salary, benefits, PEOPLE. Very diverse and very friendly... big on kudos.
Tribalism - cross group/business unit communication and cooperation are often lacking.
Health Insurance, Hours, PTO, and the environment as a whole
benefits, culture, work-life balance
corporate feel
healthcare, parental leave, PTO, sabbatical program
good benefits, respectful managements, they go with high level of treat people fairly and nicely....etc
Salaries need to be higher
health plans
challenges, work environment, benefits & retirement plan
nothing
heath insurance
Benefits
People staying stagnant -
16 weeks paid paternity leave for both parents for adoption and biological
Stable Salary and good benefits
Mortgage process is not efficient
Hours and insurance benefit
Commitment to excellence, salary, leadership
Limited promotion opportunities
Flexible working opportunities and great bonuses
I really enjoy my job. I get to assist people on a daily basis about health related issues. I listen to their needs and provide approriate answers for their situation. I also incorporate humor and speak a few words or sentences of the persons native language that I am familiar with. Examples include Gracias for Spanish, Xie Xie for Chinese,Merci for French, Grazie for Italian , and Shukraan for Arabic. All of these words mean thank you! You will be amazed how much these two words mean to a person in their primary language.Its almost like finding a pot of gold from a Leprechaun. It makes them feel good and I in turn feel phenomenal for brightening their day while getting paid! How much fun is that? If I had to give constructive feedback I would say my company could be a tadbit more organized with our IT systems. Computers do have glitches and no company is perfect. We remain transparent and try to fix errors in a timely manner. In my world that is 24 hours or less.I admit my standards maybe a little high. I challenge you to ask yourself do you want exceptional or mediocre service. Lets say it together EXCEPTIONAL! I come to work and do my best so my clients can leave feeling their best. I am always professional. I resolve as many incidents that I can while being productive and spreading joy before our call ends. TOUCHDOWN for everyone involved!
Volunteering during my work shift. Example the United Way Day of Caring or Donating to the Red Cross
it give good money
i dont like peple
i like the money they give to me after every week as a bonus
How much I’ve been able to learn
Customers are very rude
Helping people and diffusing issues
It further developed my interpersonal skills and polished my communication and team work abilities
The office setting, I love traveling to new or different sites
401k
They have good benefits
I didn’t like how things where micromanaged. It made the job stressful and unenjoyable, there was constantly pressure and sometimes people who needed help but you wouldn’t benefit from using your time helping them would get thrown to the side for someone who you would get perks for helping not fair. Didn’t happen all the time but still, didn’t like that
The bonus
Coming in every day to work makes me feel happy and help customers with their banking life.
Management can’t communicate with the team and seem like they don’t care.
the health benefits.
There was a lot of opportunity for Growth
There was nothing
Great benefits,and bonus
Great benefits. Predictable schedule.
Sales pressure. Customers can be abusive. Minimal staffing in branches means you can’t be sick, difficult to take vacation, customers are angry. Other lines of business outside the branch have it very good.
Room to grow if you work u def the right people.
I love the company culture at Bank of America and how the leadership in my unit genuinely cares about the people who work for them, personally and professionally.
I don't like my current pay rate or the current atmosphere of uncertainty.
Working from home
Good benefits
Sometimes it feels like you don't matter in the company
Paid holidays off
Many areas for job opportunities
You could count on layoffs annually from Sept-Dec
Working from home, but they took it away
The advancement opportunities
The extensive hours
Healthcare and retirement benefits
Work culture, Upper Management, Gym, Food allowance, Supoort of LOB to learn and explore new things
NA
Bonus, Travel allowance and flexible working hours
I like the money
Good benefits and Flexible hours. You have the opportunity to grow into different lines of business. Opportunity to move to different states and cities
Stress, Management don't care or consider staff for most things
Health benefits are very affordable and the bank offers a good variety. Vacation in my line of business is very flexible and you can book it with very minimal approval
Great work environment; everyone is very friendly.
The work can be tedious at times, though often challenging and rewarding.
Very good compensation.
Frequently asked questions about Bank of America salaries
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Zippia gives an in-depth look into the details of Bank of America, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Bank of America. The employee data is based on information from people who have self-reported their past or current employments at 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 other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not 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 presented on this page does not represent the view of Bank of America and its employees or that of Zippia.
Bank of America may also be known as or be related to Banc of America Securities LLC, Bank Of America, Bank of America, Bank of America Corporation, Bank of America, N.A. and bank of america merrill lynch.