Is Lead to Manager considered a lateral? Meaning no pay increase. The corp titles are the same and the compensation code. What is the incentive for someone who is a Lead to do that vs stay on the IC track and go for Sr Lead?
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sr mgr here - another confirmation that when moving between roles (of any kind), if the comp codes are the same - its considered a lateral move and requires OC+1 approval to get a raise. Perfect way to suppress internal talent pursuing new roles and maximize the importation of external/Chase people.
Comp bands are on job profile. In general band is same for lead and mgr (non technology roles). However mgr gets higher bonus percent I have seen.
Fire WF employees and use us cuuntractors. Anyway the WF employees in this forum are ungrateful so might as well use cuuntsaltants.
Answer to OP's question is - it's a lateral if the salary codes are the same between the P job (indl contributor) and the M job (manager) So it depends what level the p job is and what level the M job is and the corresponding salary codes behind them. if the same then lateral and no increase.
motivation to switch tracks is that ultimately a manager can get into higher compensation/salary codes than an IC. But you generally have to get to to the "senior manager" (M3) or "director" (M4) level to get to higher salary codes than the IC (P) families
Branch banking… premier bankers make more than the branch managers they report to
High producing FA’s make more than their manager, manager’s manager, and top performers make more than their 3 ups.
If there are actually areas within the bank where someone is making more than their manager, those are going to be few and far between. I would guess there is actually not any part of the bank where that is even close to the norm and any situation like that would be case-by-case.
Not necessarily true…I make way more than my manager
It's not unusual for a Lead to report to a Manager so I wouldn't think of it as a lateral. I have even seen a Sr Lead reporting to a Mgr, although that seems much more rare. Why do I mention that? If you are a manager with a lead reporting to you, you will obviously need to make more than they do.
There is Distinguished Engineer above Principal.
I’ve known a few Principal and Snr Lead transition to Manager roles and it is always to Snr Manager title.
Sr Lead roles (aka Principal) are the highest non-managerial roles. In Technology, for example, you could very well find yourself in a Tech Lead position (both as a Lead and Sr Lead), which counts towards leadership-time, but are non-managerial. I would much rather take a promotion to Sr Lead than go for the lowest-tiered managerial role, especially since they let some managers go a few years ago ("Spans & Layers") who had less than seven direct reports.
Lead and Manager are the same comp code, but going from Lead to Manager is still recognized as a promotion. It would be very surprising to see a new manager not get a pay bump at all, unless it is situational like already being at the top end of pay. It just wouldn't really make sense, because if you are being bumped to a manager you are likely now responsible/accountable for more work thank before. You also need to make some percentage higher than your directs. Sr Lead is likely better upfront, but Mgr should position you well going forward for a Sr Mgr role, and the bonus potential is also better as a manager than IC.
Managing can be a royal PITA. Especially at this co. I’d take the chance to work unfettered w/o managerial burden for same compensation every single time.
But I do love and care for the people I manage… I work for them. Is the mic off yet?
"Show me on the doll where Wells Fargo hurt you."
/points at wallet and head
@jds+1uXnM5z8 Show me on the doll where Wells Fargo hurt you.
There's no raise for getting a new role/job as an existing employee. Didn't you get the memo?
mgr to lead is lateral in most cases. mgr to Sr. lead is looked at as promo. Sr. mgr to Sr. lead is lateral. I've seen cases where Sr. mgrs were changed to ICs with a lead title
Depends on what your career goals are. If you want to get people manager experience or open up the door to moving into director level roles eventually, then a senior manager role is probably a better choice than sr lead even if it means you won’t see as much short term pay increase vs Sr Lead. It will also make it a lot easier to find manager and higher level roles externally. If you just want to be an IC and have no interest in ever managing people, then Sr Lead is likely a better choice.