Ever hear of an internal offer being made, but the offer doesn’t even come close to the minimum of the new job role? Recruiter cites the 20% increase as the reason, but 20% won’t get to the minimum of the new role. Why have a minimum if that isn’t even being offered? Lazy recruiting?
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Many many years ago I accepted a new position without even discussing salary since the minimum was a 50% raise. Then my new manager mentioned that it wasn’t guaranteed I could get the minimum since it was such a big boost. In the end, they gave it to me and I’m still in the same department.
if a 20% raise is the max you can get when moving positions at Wells Fargo. I'm definitely looking somewhere else next time. Though I do like working here, and am excited about my new job. Probably a risky take on this board lol.
I feel like the way internal candidates are treated is a lawsuit waiting to happen. If you are external you get to actually negotiate. We perpetuate the inequities here by lowering the amount someone can get in a new job. Why people leave.
@1ffw BAHAHAHAHAHAHAHAHAHAHAHA
That's the funniest BS I've heard in my multi-decade career here. I can attest to the fact that what you typed is utter hogwash out of personal experience being held well below market rate for years.
@1pwy also another reason why not allowing raises for lateral moves is id--tic
Just got an internal offer. I got 19% and bonus eligibility. Recruiter told me it would take an act of Charlie to get above 20% raise. The raise got me past the minimum but below the mid.
It used to be 10% was the ceiling. But there was a stipulation that if you were below the minimum your manager was required by HR to evaluate every 6 months until you got to the minimum.
With all the lip service we pay towards diversity you would think that they know that a major reason that women and minorities make less is that frequently a new salary is based on what you were making before. If you fall into any of the protected classes, they are asking for a lawsuit.
If 20% raise doesn't get you to the minimum of a job one step up, you are severely underpaid. External candidates can negotiate 15% above the former midpoints.
Was the base not close to the low end of the position range or the TVC (base plus bonus)? If the answer is the former it would reason to believe the ranges are total comp, not base only.
It takes approval from the Operating Committee for a raise greater than 20%.
It would be silly to turn down the offer, even below the minimum, if you are getting a 20% pay raise. Take the job, get the experience and resume material, then look elsewhere after the recession.
That doesn't even sound it's online with our own rules. Shame on them and their 20% BS.
Never heard of that. Though, what I do know is that when you hit max for your job title, every year the supervisor just says I’m sorry I can’t give you a merit increase because you’re at the maximum. So, what do you think the supervisor does to compensate?
Lazy recruiting and recruiting freeze