I actually heard in 2 years we move to salary + bonus.

I’ve heard that as well.

I heard the same however the salary will be so small it will not matter.

agreed, something like 40-50, also if your under 300 they will say good-bye.

A question: How does a salary-plus-bonus arrangement benefit a 300+

producer? To me, that would mean a pay cut can be initiated any time they

want to change the bonus.

it doesnt benefit a 300k producer. That is the cut-off, a 220k producer would be happy w/that arrangment a 300k would not. you cut anyone who would be happy w/ the salary and dangle the bonus carrot in front of the other producer's. JP Morgan did this 6 or 7 yrs ago when they took over H&Q. Guys making 1mil were given a salary of 200k + bonus, didn't work they all left.

This is the 2nd year these phuckers have ruined my Christmas because of comp changes. I hope to god there is a mass exidus come Jan-Feb.

[quote=$$$$$]This is the 2nd year these phuckers have ruined my Christmas because of comp changes. I hope to god there is a mass exidus come Jan-Feb.[/quote]

stop whining.  do something about it.

then again, if you fixed the problem you might end up unhappy that you no longer have anything to whine about…

5 bucks -

If there was a mass exodus would you career prospects somhow improve?  I know that sounds like a taunt  - I don't mean it to be.  Focus on improving your own situation - not on someone else's situation getting  worse (what good does that do you?).  Look at the things you CAN control  - how you spend your day, the attitude you portray to those around you etc.   If your referral network (wether it is CMs or branch folk or the Rotary Club) always gets negativity from you - you couldn't sell $5.00 bills for 2 bucks! 

If it just doesn't work for you move on...  Send an email to senior management on your last day if it will make you feel better.

If you are over $350k, the comp plan stays the same for you.  As for going to salary plus bonus, strictly rumor.  If BAC is so bad, please quit whining and take a check or go indy.  Life is too short to feel as bad as some of you sound.

[quote=overhead]If you are over $350k, the comp plan stays the same for you.  As for going to salary plus bonus, strictly rumor.  If BAC is so bad, please quit whining and take a check or go indy.  Life is too short to feel as bad as some of you sound.[/quote]

You guys can’t see the forest from the trees. They just raised the bar 50k gross to get a 31% payout and you’re as happy as can be.

whats it drop to @ 315K?

I thought the hurdle would be 400k

[quote=$$$$$]You guys can’t see the forest from the trees. They just raised the bar 50k gross to get a 31% payout and you’re as happy as can be. [/quote]

No you moron it’s you who can’t see the forest of opportunity out there, at BAC or otherwise, because you’re so busy arguing about minutiae.  Either stay and work to get your best out of the opportunities there, or get the hell out.

Banc of America finds itself in deeper hole

Bruce Kelly

October 30, 2006

NEW YORK - In a spreading mess, several former brokers and advisers with Banc of America Investment Services Inc. are in the middle of arbitration claims and lawsuits against the firm, and their cases focus on the series of broken promises the firm made during a recruiting spree in 2003.

Where is the story from?

waterboy:  Google it. 

bankfa10:  Thanks for the story.

I wonder what else will happen when the new comp plan is rolled out tomorrow.

Many will leave in the 1st qtr.

And I thought you were a friend joedabrkr.

btw can someone please post the above story on bac?

Not sure if pasting the entire story will survive the moderators.  Googling will get you the entire story.