Some people got both their band and title promotions the same year and we are told they don't normally do title and band together. Basically they can do anything if the manager wants it and HR have no consistency. I was denied a title promotion stating I just got the band promotion but I see some getting both title and band together. It feels like a scam :(
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People forget we have TWO titles at the bank.
One is an external title like Vice President. The other is an internal title like Manager II.
You can get a band promotion and INTERNAL title promotion at the same time. For example, you could move up from a Band 5 Manager I to a Band 4 Manager II at the same time. This would probably come with a raise.
In this scenario, your EXTERNAL title (Vice President) would not change.
Then, your next promotion would be an EXTERNAL title promotion to SVP (but you would remain a Band 4 Manager II) so this would not come with a raise.
@1nxa+1q65FXe4 - spot on! The comp ranges overlap across all the bands. I hired someone from outside for a B4 role, asked that they wanted to come over, which was higher than the B4 range, told HR I wanted them, had a hissy fit and got them.
Did this b/c I knew once they came over, they'd never get another raise here ever again b/c HR would say no. So, at least they came in high.
@OP+1q65FXe4 - it is indeed rare for anyone to get raise/title same time, but I have seen it twice this past year: 1) had two competing offers externally, but didn't really want to leave and used those as leverage; and 2) the other is a "favourite' who spends a good deal of time thrusting herself at the LOB head (it's blatant and gross).
I'd say not giving raise/title at the same time is most often the case, but as with everything, there are always exceptions (wink, wink). Sorry this happened, but better you learn now than languish here for years not realizing. I didn't get a raise for 10 years, so I just started coming in later, leaving earlier, doing less and less, taking random days off, longer vacations (leaving the week before I told my manager I'd be out). This was my way of ripping them off. Granted, I did not get more money, but by working half the hours, I effectively increased my hourly rate -- my own manufactured raise. Meanwhile, I groan and whine about how overworked I am and alwyays have an exhaustive list of projects (some real, others not) for our weekly team meetings. You figure out ways to work it.
If the title is that important, then you probably want to start looking outside. (or kiss some major azz)
It is a scam. Neither mean much of anything. I mean, I guess they say band is tied to pay limits.. but I know I make more than at least two people in a higher band than me (because they’re family members who also live in the same city as me, so of course we talk about our salary openly).
Don’t assume that you make more than a B5 just because you’re a B4. It’s all a scam.