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  • Jun 23rd, 2016 12:38 am
[OP]
Newbie
Feb 21, 2008
18 posts
2 upvotes

BMO Payscale

I have a friend who is interviewing for level 8 position at BMO. Can someone tell me

1) Whats the official HR payband for that level?
2) What percentage/how high can the hiring manager go (without doing lot of escalations) above that range?
3) Do they usually offer sign up bonus for mid-year hire?

Thanks
6 replies
Jr. Member
Jan 31, 2016
176 posts
83 upvotes
AB
Why are you asking all these questions for your friend :?:
Deal Fanatic
Mar 15, 2005
5483 posts
1030 upvotes
aka_coolguy2 wrote: I have a friend who is interviewing for level 8 position at BMO. Can someone tell me

1) Whats the official HR payband for that level?
2) What percentage/how high can the hiring manager go (without doing lot of escalations) above that range?
3) Do they usually offer sign up bonus for mid-year hire?

Thanks
Can't speak to BMO in particular but working at another large bank:

Most levels have HUGE bands associated to them, so the range is probably quite large.

Internally they probably have a set number in mind for their position, you won't be able to find that out unless you read their minds, but Glassdoor is usually pretty good I find for ballpark numbers.

Because the bands are so high they technically have tons of room to move, but won't just give an analyst 100K because that's the max the bank is, it needs to fit their internal budget as well.

At my bank they do bonuses for mid year hires as long as they have been there at least 4-5 months of the year, but only a prorated portion, and not usually a big number, kind of a small sip.
Deal Fanatic
User avatar
Oct 16, 2008
8112 posts
2771 upvotes
Maple
Your friend can ask these questions when BMO offers him the job.
Deal Addict
User avatar
Mar 7, 2007
4339 posts
1823 upvotes
For 2 and 3:

2) Generally, the hiring manager cannot go outside the range of the salary level. It is a big deal.
3) As far as I know, there are no signing bonuses anymore in the banking industry in Canada (with the exception of special cases at the VP level, or even the C suite).
Penalty Box
Dec 27, 2013
8003 posts
3989 upvotes
Toronto
level 8, probably around $70,000 to start.

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