If someone applies for a band 4 role and is currently a 5; does anyone know what the “typical” increase percentage offer is? Or know how much they could be willing with a counter offer.
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Salary issue also applies without a band change. Making $99k you take home more than someone making $105. At $100k the cost of your medical insurance doubles.
I’d much rather be a band 5 making 95K and flying under the radar than being promoted to band 4 making 115K in a highly stressful role. Everyone knows the value of making under 100K - the benefits.
It just comes down to what you make currently and what the pay range in for the new role. Increases aren't limited to a certain percentage when moving bands, provided you are applying through a posted role (with recruiter). That said, different roles have different raises to a band 5 applying, and selected for, a band 4 role could end up with a large pay increase or none at all depending.
If you are promoted internally without going through an open req/recruiter however, the pay increase will likely be small or even potentially nothing at all.
If you are under 100k in band 5 going to band 4 you need to make $10k plus more to justify benefits you may lose...
You should ask the recruiter or hiring manager if they will consider you for B4.
IF (and that is a BIG "IF"), they will even consider a B5 for the B4 role, I highly doubt you will see any increase in $$ at all, unless it is VERY CLEARLY spelled out IN WRITING before making the change. My guess (and it's only a guess, having seen this happen repeatedly over the years) is that they'd probably downgrade the open role and simply move you over laterally as a B5 to pile a ton more work on you.
Am seeing this in many depts. One colleague just changed teams and took what is essentially a B3 role -- all the additional responsibilities and work -- with no change in title OR salary. I asked the hiring manager about recognizing this person - who is DOING THE JOB - with the appropriate title and band, but they said they will not consider changing the person from B4 to B3.
that said, the pay diff in B4 and B5 is quite small and bands overlap, so higher band does not always come with more dollars.
I also heard from higher ups that they are considering getting rid of bands entirely -- or changing them dramatically. (no idea how that would work)
So make sure you really, really like the day-to-day tasks of the B4 job before changing. Don't do it "just for the band".
The main thing you get is more training! :-)
A band change at BOA from 5 to 4 could even be a lateral move if you are working under anyone in Chicago.
From what I've heard, from someone who went from 5 to 4, it's pretty small.
There is no automatic increase. You would have to work out any salary change with the hiring manager.