Can you explain how salary grade levels work?
I understand the general structure is something like:
• Grades 11–12: Officer
• Grades 13–15: AVP
• Grades 16–17: VP
If your title is “Officer,” does that automatically mean your salary range (slate) is lower than someone titled AVP?
Also, what’s considered a “normal” compa ratio? If someone let’s say is at 120% of their compa ratio, wouldn’t it make sense to move them to the next grade level?
Would appreciate any insights!
"This is simply not true. I was a 14 when at the Bank (left late last year) and was a VP with VP signing authority. Others in my group were 14s and 15s as well with VP title and VP signing authority."
@cp+1jtmbqp6x when you say the above to my "VP starts at 16" did you intentionally omit the second half of my statement - "This is not counting those grandfathered VP's."
Back then bank titles were not linked to pay grades. They are now.
"VP starts at 16"
This is simply not true. I was a 14 when at the Bank (left late last year) and was a VP with VP signing authority. Others in my group were 14s and 15s as well with VP title and VP signing authority.
I am officer grade 11 and still hourly
The titles used to be completely arbitrary. They tied them to grade levels now, but it's not exact because many people had higher titles at lower grades. Normal compa ratio is under 100%. You're not going to get a grade increase because of a high compa ratio. If you're above 100, you'll be the first to be laid off.
VP starts at 16. This is not counting those grandfathered VP's.
No? They're AVP grades.
Grades 14 and 15 are Vice President grades.
Each level is associated with a pay range, and the pay ranges of each level overlaps with adjacent levels. Compa ratios are just an expression of where you are against the midpoint of that salary range, 100% compa ratio means you're making exactly the midpoint of the salary range. When you're above 100%, this is used to justify withholding raises. When you're below, other reasons are used to justify withholding raises. The goal is not to increase pay, so there's no reason to bring you to a level where you're at the midpoint of the pay band.