What was your historical salary increase percentage from promotion? Manager told me about that going to promote me after year end.
15 replies (most recent on top)
Expect nothing. You’ll be close and not disappointed.
Don’t count on it. My manager promoted me twice in two years and the top management ki---d it both times because they didn’t want to pay extra and probably get a better bonus for cost cutting.
Needless to say I am not in that area anymore and they lost a good resource.
In job promotion, probably not a very large increase because the promotion comes out of the merit budget. Apply and get hired for an internal job that's a promotion can be large if the hiring manager is worth their salt.
If they promote you and give you 3-6 percent it makes it harder for you to go out and find a 19 percent bump because if you don’t go up another level it will be lateral, then you get no more money, just more work. So loyalty doesn’t pay. Look around internally.
There is no such thing in WF you have to leave and then come back to actually get any money
I have no idea what a “promotion” is.
I identify as a consistently exceeds therefore any rating otherwise will result in a class action lawsuit. Try me Wells Fargo.
Some promotions don't result in salary increases, FYI.
I quit and got a 20% increase elsewhere. Elsewhere is planning a 4.6% increase at year end. Elsewhere beats anything at WELLS
I went through this recently, they’re able to give you more if you apply internally vs a promotion, I don’t know the exact numbers as I’m sure it depends on your currently salary and new job role salary but I was given about a 20% increase when applying internally.
You can get promoted one level up. It's not easy but possible. For me, I only got to the next minimum. I bet though if it was a job posting, you could get more than the minimum
OP here, the advanced role is one level higher than my current one and pay grade on workday is 20% higher, so there is difference between year end promotion and internal apply? I thought you always have to apply that position due to standard HR procedure, even just post one day.
Depends how far you are from the min of the next level or promotion.
For me:
Promotion through year-end process = 7% (I’d expect 6%-12% to be normal here)
Promotion through applying for internal job = 19.8%
Off-cycle promotion in a year = 19% (I’d expect 10%-19.9% to be typical).
Promotion within current roles to a “higher level” in the past I’ve averaged anywhere between 3-6%. Promotion I’ve applied for, 19%.