Am I being low balled? I was recently promoted from grade 12 to grade 13 without a pay raise. Only change in compensation is my bonus increase from 8% to 10%. But I take on a lot of new responsibilities.
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They’ve actually changed the policies last month where if you are already making a certain percentage to midpoint on your pay grade then you will not get a base increase of going up one level. That percentage differs +10% if you are extraordinary rating. I was on a meeting with hr and TCs where there was discussed as the new go forward.
One note on this topic is if you are grade 15+ just the level itself will be meaningful in overall comp. Base comp bump is nice but as you get higher, it matters less vs the bonuses and incentives. For the OP, base comp increase should have been done.
If it was during the annual comp cycle, HR strongly recommends that any outstanding ratings and promotions should get a meaningful raise. Either they spent all their budget on their FIXED pool of money on others or they don't like you.
If it was off-cycle, they did it because they want to recognize you, but had 0 budget and next comp cycle, you will be farther from midpoint and then can get 2.5% instead of 2.0%, and those with higher wages near or past midpoint will get 1.0 or 1.5%.
Assuming Trump doesn't f up our economy and make us get no raises this year or a 1% pool for raises.
I like the comment about your manager working on getting you more pay because you are topping out in grade. The trouble is, down the road you become a RIF candidate because you were over promoted or because of your pay.
If a promotion does not come with a raise in pay, then it is not a promotion. You should have declined. Never agree to a promotion without the pay increase detailed, confirmed, and approved in writing prior to accepting the increased responsibilities.
Know your comp ratio and make sure you're over 100%
As a hiring / people manager, we usually get flack from HR for not providing at least a 5% raise with a promo.
I’ve had employees who are consistently exceeding expectations for years. Eventually they get too high on their grade and I can’t give them more during annual merit. If I can move them up a grade mid year, their pay ceiling is suddenly a lot higher. Not sure if that is your case, but it’s one possible explanation.
You been su-kered by your manager.
@be Is that limited to promotions for grade 12 to 13 or does it apply to other grades as well? For example, are there more hoops to jump through for grade 15 to 16, or grade 16 to 17?
Boo Hoo! Its USBank not appreciating you!
@de Dry promotion = You’re getting $crewed with no lube 🧴
@be lol I've been <90% for 20 years. I guess I'm getting sc--wed.
Its called a "Dry Promotion" And its the new norm in the corporate world.
No increase in pay? Think about it and ask yourself one question and one question only - WHY DO YOU WORK? The answer is simple - FOR MONEY. Everything else is BS including titles.
"HR here- Find out what 115% of midpoint is for your new pay grade. That’s the exact number you should ask for. The hiring manager will not have to jump through hurdles to get it approved."
Hiring manager here. 100% can confirm it is true.
HR here- Find out what 115% of midpoint is for your new pay grade. That’s the exact number you should ask for. The hiring manager will not have to jump through hurdles to get it approved.
@aj If merit was ever a guarantee, it was too long ago for most current employees to remember, and the company has paid according to the cost of labor and not the cost of living for ages. I don't like her either, but these things have nothing to do with Gunjan.
That’s NOT a promotion. I also got a ton new responsibilities and kept a team afloat during the re-org.
Got a bonus increase. And so I looked for a new job…..exit interview was fun.
Not sure if you got the memo yet, but under the new regime, merit or cost of living increases are no longer guaranteed. Unless you are perceived as a high performer, you could end up staying at the exact same salary for years.
Never heard of this before - you are supposed to get a pay grade increase. I would ask about this - there is no salary freeze that I know of.
He-l yeah you are being lowballed. Did you sign for it yet? I wouldn't do it. You should ask for 10%.
That's what USBs plan is. Promote you, have you do more work for the CHANCE of increase pay.
What's a 2% increase in bonus after taxes? Probably not worth the extra work. IDK what your skills /department are but I'd look at other jobs, it's never a bad idea to keep the resume updated.
Not to be a Boogeyman but USB can fire you next week, and if they do are you ready for that?