Salary Question, Theoretically SpeakingHi everyone, Been busy as all heck at my job and haven' t had much time to come to the boards lately. Pleased to say that my job is going well, I am at the four month mark. I successfully made it through my first quarter with a very positive review and my first raise. I have received consistent feedback and praise for my work from partners and teammates across many lines of business. I feel good that my hard work is paying off. For those who don' t know, I am a proposal writer for one of the largest banks in the world. I' m very happy in my role. Here' s the situation, however. I get along great with my boss, she is very supportive of me and my contributions to the team. She has told me she feels I am already one of the strongest members of her team. We recently completed our yearly performance development plans, which include what our goals are for our careers. She is aware that I am interested in going into contract management, as a step up in responsibility. It would utilize a bit more of the legal aspect of my background (I have a paralegal certificate and a communications degree) and would be a challenge. Also, there is a great need for more people in that area. So imagine my surprise today when, after mentioning in passing to a colleague that I would like to schedule an informational interview with her sometime, she tells me my timing is perfect and she would be adding to her team in the coming weeks! My boss has no issue supporting me here if I choose to interview for this position. My question is, how are internal job changes handled? If I were to go this route and change positions as of my six month anniversary, would I negotiate salary as if I were outside the bank? Or would I stay the same? Does it depend on position? I just wanted some feedback so I am prepared before and if the time comes. Thanks everyone, Here' s how internal postings work (your company may vary). -Usually there is a time requirement. Most often 1 year in the current job. Sometimes 6 months, sometimes longer. Sometimes the current supervisor can make an exception, sometimes not. My company (a huge bank whose name you' d definitely know) is 1 year, no exceptions. -There is then an internal job posting for at least a few days. My company minimum is 10. Anyone that meets the requirements can apply. -HR screens applicants based on their criteria and then will probably phone interview some. HR will likely ask the Hiring Manager if she' s got anyone in mind and watch for that application to come through. -The HM can then interview. -The HM picks someone. HR verifies that you' ve got a good record in your current spot and no issues (not on probation, etc.) -The offer is made either by HR or the HM. The number is based on a complex formula of what you make now, where you are in relationship to the median for your range, whether the new job is a promotion or a lateral, etc. Then there is a limit to who can approve what amount. The last person I hired I was able to give an 11% increase because if I went to 12% it had to go two more levels up and we weren' t sure they' d go for that in the hiring climate we were in. Those kinds of things are all factors that come into play. Odds are that you really won' t be in a position to negotiate either. You' ve never done this job before, you' re not going to hit the median for the scale. You' ll be some number between the low point and the middle based on the complicated formula mentioned above. They' ll tell you what they' re offering and you' ll either take it or never see another promotion opportunity with them again. It will, however be a great chance for you to get into the area you want to be in so that' s a great thing. | |
|
Career Tips
|