Other than the title change, has anyone received a raise with the promotion? Even a small raise on top of a merit raise?
15 replies (most recent on top)
B3 Manager here - it's essentially Free to me to throw a title at you.
When I told HR I wanted to also reward a Top Performer with a Pay Increase at the same time, HR Rep said, "No. Why would you should your wad all at one time? Give the title now and we can discuss possible pay increase in 6-12 months. Just tell your employee we wil review the salary then."
Ba-f. Makes me sick to work here anymore.
In many cases, a promotion to AVP - usually meaning going from B6 to B5 - results in a sizable pay cut as you now are no longer OT eligible.
Those AVP, VP, SVP titles mean nothing as it relates to a raise… you’ll be considered for a raise when everyone else is. It’s just a way to make top performers feel like they’re being recognized… and a way to acquire a larger workload and responsibilities. But you’ll still end up getting the same percentage of a raise as you would’ve without that fluff.
care to share what did you do to skip VP and straight to SVP
Took me 21 years but I just got bumped from AVP to SVP. You still have a chance.
you are not alone many of those who are in the same boat not doing enough shoe polishing
@q5 Indeed kind of the makes the performance plan and career planning laughable to the point where you can't avoid it, so you just start having fun with it. In Q4 or Q126 I'm going to use ChatGPT to write it.
@dn Bingo, you nailed it. 25+ years ago I started as an AVP and I'm still an AVP. It would be nice to have a title change to show a little respect for my dedication but I'm not holding my breath.
Many times
But never at Bank of America, it's like seeing Sasquatch for the first time.
"Pay for Performance"
vs
"Performance for Pay"
No extra pay. Just the prestige of a fancy new word and lots of extra work. You've earned it and you're welcome
if you are getting title promotion, that means you probably getting exceeds so you will get a little more increase.
You mainly get more delightful training.
Only the special ones will get a pay increase with title promotion
Have received two title promotions neither with raises just more responsibility.