title bumps at merrill mean an automatic 10k pay increase in february on top of whatever you already got.
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Agree with all here so far - as a manager, HR tells us to "just throw a title" at an employee who is yapping for a promotion or raise. Length of time in role Is NOT a rationale.
(They rarely allow us to give a raise and title promo same time, unless the person's job really changed or you change groups, and often not even then).
So, titles cost nothing and mean nothing. You won't get a raise.
But if the title is important to you -- which it is to many, esp. those building their career, then start yapping AND provide your manager with a list of concrete accomplishments, added responsibilities, leadership you've shown in taking on key initiatives or special projects to arm him/her/they to champion your case to HR.
I agree titles mean zip. Just another excuse to have you do more and get paid less.
Yes. I went from AVP to VP after one year. That’s because my boss championed it for me. I had no idea until it was approved. This was about 8 years ago. Who knows if times have changed though.
Technically it should be as AVP, VP, SVP mean absolutely nothing. You get no raise, no increase of any compensation. That being said, SLT will use this useless title as a means to motivate people into doing more than they are already doing. Years later, still AVP and the people who did get VP, had to do A LOT of extra work for a meaningless title promotion.