We investigate the temporal evolution of the electronic states at the bismuth (111) surface by means of time and angle resolved photoelectron spectroscopy. The binding energy of bulk-like bands oscillates with the frequency of the $A_{1g}$ phonon mode whereas surface states are insensitive to the coherent displacement of the lattice. A strong dependence of the oscillation amplitude on the electronic wavevector is correctly reproduced by textit{ab initio} calculations of electron-phonon coupling. Besides these oscillations, all the electronic states also display a photoinduced shift towards higher binding energy whose dynamics follows the evolution of the electronic temperature.
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