I just recently got a promotion but was told my raise won't start until April?! What is this all about? I'm assuming it's not retroactive, but seriously how can they give more responsibilities and a title change with no change in pay for a year...
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One time I got a promotion but no pay raise!
This happened to me as well recently. I bet you that next March I will get laid off before this increase.
@cla+1bIkAnPr I wish I knew who to complain to and how. I can't complain to my manager because my manager doesn't like this policy either...
& let’s not forget. All of this sacrificing… The delayed raises, working extra time, ETC, is all so the high-level executives can get a bigger bonus
This "kind" of happened to me 8 years ago when I got a new job within the company. I was told by HR that the pay increase wouldn't take place until the next pay period. How that wasn't uncommon. They try to get away with it with internal transfers. If they were hiring from outside, would they start them at a lower rate to "prove themselves" and then bump their pay? BS!!!
Long story short, I complained enough that they gave me the raise right away. DO NOT settle. Fight for it!
BNY will squeeze every single drop of your blood. You are a slave to them grinding the mill.
Modern slavery
Yep - this happened to me as well. Was told I won’t even know what the pay increase will be for my promotion until year end. Let alone WHEN it will go into effect. I don’t understand how this is legal?! We should be able to at least get retro pay when you are promoted.
@xoq+1bIkAnPr is misunderstanding the scenario. The OP is not asking about yearly merit. S/he accepted a different role (ex promotion from analyst to senior analyst). The increased salary will not be retroactive. Yes, you will need to perform the increased responsibility until April at your current salary. Happened to me too. I wasn't told anything until a month after I accepted the position and started my new responsibilities, only to find out, to my surprise, when I saw my direct deposit hadn't increased. I told HR and the hiring manager that they need to be clear with internal hires about this practice. The only get internal hires to accept positions because they don't make this widely known.
Raises announced year-end are typically applied in July of the following year, so your situation seems on par with how BNY does things. You'll be given the responsibilities and tasks of a higher titled employee with the same pay until the next adjustment period.