It depends what area you work in. If you work in finance, the title has no impact on pay, it is for show only and means nothing. In finance all merit and bonus decisions are based on your ranking among peers in the same dept and band.
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@ktu is 100% correct
Bands don’t determine pay as much as functional titles do. Investment Banking Analysts who earn six figures are Band 6 yet some call center reps are also in this band making $50k. Bands really come into play at certain points- Band 5 means you get 20 vacation days plus floater. Band 4 used to mean that one’s annual bonus had to be split between RSUs and cash based on the Board’s comp committee’s allocations for that year.
This changed in 2019 and now Band 5 is also subject to RSUs if their annual bonus is >$50k. The split is determined by Board. Band 4 is minimum for Director/SVP title (but one can still be VP in that band). Band 2 is level of running a functional LOB. Like ISG, Retirement. they make huge salaries and get massive RSU comp.
I know several Band 5s that pay $200k (base and bonus) and some Band 4s only making 150.