Today, my boss claimed to have put me up for a promotion. WHEN will he find out if he is successful or not in getting this for me? And when do they typically communicate that info to us?
And are these the same procedures re: determining who gets what bonus, or is that a different thing altogether? Any of you managers familiar with how the timing and process works? Thanks, I appreciate any info you can share.
Context: Band 5, Tyrie’s org.
14 replies (most recent on top)
Your manager nominates you, then justification are put in, it's reviewed with Your LOB/HR, decision is made and managers know ahead of time, titles are then communicated by Dec when HR gives green light to communicate.
The LOB/HR decision is where things get going. If the area has too many promotions, then HR asks to lower the pool with denials.
A title promotion NEVER means more money, the 2 are not tied together. And, it does not look good on a resume as you'll be explaining why you are leaving your "VP" role for a manager's position at another employer.
And again, the system makes the suggestions and therefore the nominations. If the system nominated you, it will be approved. If the system didnt nomimate you, your manager would know if it were approved or not because they would have to work with HR to get you added to the system and approved.
Title promotions in general are announced en masse toward the end of the calendar year or early in the new year, but are being sorted out now. I’d expect/hope your boss has confidence of your promotion if he/she is telling about it. It’s more common to nominate people but not tell them, because not all nominees are promoted.
While it’s true that a title upgrade does not often mean an immediate pay increase, it does mean you have been marked as someone to watch and be considered for new, higher-paying roles. The title upgrade also looks good on your resume, shows that your employer values your work, and makes you a stronger candidate for new opportunities elsewhere.
If you were being promoted by your boss, they would have discussed it in talent planning. That process is probably close to lock down at this point, so you should have received a glowing mid year performance conversation. If not, your boss is likely just looking to blame someone else for not approving your promotion rather than being direct and candid with your feedback. If you get the news that your promotion was not approved, challenge your boss to share the feedback on your performance that was discussed in talent planning.
Pointless title promotion without any extra cash. But keep up the great work, work harder for your next title promotion. LMAO!! Bank is a JOKE!!
Title Promotions are a joke and come with no money. They are also now automatic - meaning if you meet the requirements, the system suggests to the manager you get the title promotion. If the manager doesnt agree with the system's suggestions, the manager has to justify the no title promotion decision to HR. The requirements are based on your prior and current year ratings. If the rating wasnt or isnt currently an "E", the system will not suggest a title promotion, the manager can argue for a promotion anyway but unlikely.
Bands: B1/B2/B3/B4/B5/B6
Titles: MD/Director/SVP/VP/Assistant VP/Officer
Roles: Executive/Tech Manager 1/Tech Manager 2/Tech Manager 3/Tech Manager 4/Tech Manager 5/Tech Manager 6.............Tech Manager Infinite
Software Engineer 1/Software Engineer 2/Software Engineer 3/Software Engineer 4/Software Engineer 5......Software Engineer Infinite
Delivery Lead 1/Delivery Lead 2/Delivery Lead 3/Delivery Lead 4/Delivery Lead 5/Delivery Lead 6.................Delivery Lead Infinite
:-) you know what I'm talking about
Right. There are 2 different types of promotions.
The title promotion is more of an appreciation for the hard work you’ve done previously. Doesn’t come with more $$$.
The band promotion is where you’re actually going to be taking on more responsibility so this is where you’d get the big raise.
You won’t get both at the same time. Think of it like this:
B6 AVP to B5 AVP - raise (band promo)
B5 AVP to B5 VP - no raise (title promo)
B5 VP to B4 VP - raise (band promo)
B4 VP to B4 SVP - no raise (title promo)
B4 SVP to B3 SVP - raise (band promo)
In other words, you get a raise “every other promotion” and you would never get a title and band promotion at the same time.
I think raises come with a band level promotion, not a title promotion.
If you’re getting promoted from a Band 5 VP to a Band 4 VP, you will probably get a raise.
But if you’re getting promoted from a Band 5 AVP to a Band 5 VP, you probably won’t get a raise.
Internally, you want to go for the better band level.
When you say promotion, do you mean title?
Getting a title promotion is a joke. I have never seen a place where you get a title promotion and no Merit increase. Oh but here is more responsibility. Thanks for adding to share holder value.
The answer is you will get promoted and get no increase in compensation. Congratulations!
Of course I asked my boss, we come here to find out the REAL answers, duh
Why not just ask your boss?