I have worked at the bank since 2014. Several years ago I received a promotion to Sr. Lead Analytic Consultant. The raise that went with that promotion put me above the lower limits by just a couple thousand dollars. Currently that role is posting for $139K - $239K per year. After my increase this year I am still making below the lower limit. Is this normal? Are others experiencing this same issue? For background, I have been 'Meets' consistently over the last couple years but never missed an SLA or Training assignment.
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Just need to find jobs else where, I was managing people in another bank making more than me, when I came to WF, total comp increase was 60%
You are experiencing pay compression/inversion which happens anytime you stay at a single company for years. New outside hires are being brought in at just under (80%) the midpoint while you suffer the 0-2% raises that hold you below market. Analysis is supposed to take place annually to address pay equity issues, but those adjustments don’t bring you to what external hires are offered. Without a management chain willing to get up to OC approval and make significant adjustments, your only real way to an increase is to leave for another company. The irony is that if you leave they have to pay your untrained replacement, but they don’t seem to math that in.
I don't know if you will receive too many constructive responses to this post. This is the layoff site, and many folks here are going through significant hardship. Typically, HR is supposed to monitor situations like the one you describe and reach out to managers to review potential salary adjustments. Where you work also makes a difference as the compensation range is specific to your geographical location.