For those of you who have moved to a new role internally at the bank (B4 role to another B4 role), did you receive a compensation adjustment?
Or do lateral moves carry the same comp?
6 replies (most recent on top)
If you are a Band 4 and need to ask this, it explains a lot of what we see lately. That's not a compliment.
Probably depends on where you move to.
Shared services roles like HR and marketing aren’t revenue generating, so doubt you’d see an increase for a lateral move.
But if you’re moving from a B4 shared services role into a B4 revenue generating LOB role, then maybe…
Unfortunately, you have to negotiate it for yourself, and the best way to do it is to demonstrate that the new role adds more value than the previous role. You are actually negotiating against HR more than the new org -- if they want you, they'll help make a case for you if you let them know.
Usually, comp depends on what you negotiate but don't expect more than 10% if your pay is too low. I got 2% bump 3 years ago. Pretty flat after that
did you move LOBs/organizations from the point of rolling up to a different direct report to CEO? if so, yes maybe. if not, then no. Band comp is slowly being removed as a criteria it's all on a range also tied to geography (and direct to CEO). one time I moved from B5 to B5 all under the same CEO direct report and got a substantial increase (I'm talking 2021) and that was extreme luck, chance, circumstance. all roles you find on your own, whether direct apply online or word of mouth 'pull' in, you still have to submit something via workday to get it through the motions with HR. so not sure what is meant by 'post for the job' exactly....I had raised my hand, interviewed, and then got told to apply on Workday.
If you didn’t post for the job, then I doubt you’ll receive any change in comp.