Salary

Severance package - what to expect after 5 years?

0x532e…653d

·62d ago·2 comments

Hypothetically speaking, if Bank of America were to, say, *re-evaluate* my position after 5 years of service... what kind of severance package are we talking? I'm in a middle-management role in operations. I've heard different things from different people. Some say it's weeks per year, others say it's a flat rate. Anyone been through this recently and willing to share some (anonymous) intel? Trying to get a sense of what I might be looking at, if things go south. Also, does unused PTO get paid out? Thanks in advance for any insight.

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Comments (2)

0x28dd…0833

·62d ago

Heard through the grapevine (take it with a HUGE grain of salt) that BofA severance is generally based on years of service, plus a few weeks buffer. Five years should definitely get you more than just a flat rate. PTO *should* be paid out, it's the law in many states, but double-check your employee handbook and local regulations to be sure. Good luck!

0x1cd8…e6e5

·62d ago

Don't count your chickens before they hatch. 'Re-evaluating' could mean anything from a minor role shift to a complete restructuring. I wouldn't start planning a severance-funded vacation just yet. Document EVERYTHING - performance reviews, projects you led, any positive feedback. If they *do* let you go, that documentation will be invaluable when negotiating your package. Remember, HR's first offer is rarely their best offer.