I have an internal opportunity which I am considering. What should be the target range that I should put on table based on the range that I see on job positing. Assume the job salary range is $65,000 to $130,000.
Are we still going with 95 or 97 of midpoint?
For a given position, the vast majority of employees are below the “midpoint”, and the “midpoint” functionally resembles a maximum that’s difficult to reach. The stated maximum is usually fictional. Although the firm has made great strides in recent years towards ensuring honesty in its dealings with clients, its internal compensation practices are still riddled with obfuscation and hyperbole.
@1vpw Not how it works at Wells. Wasn't before and still isn't now with the new job architecture.
For clarity, the midpoint of a range is the point at which 50% of employees (by count) within band are below and 50% are above. Generally, bands are 'smaller' for positions intended for employees early in their career (so they can progress) and larger for bands where personnel may spend the majority/much longer of their career.
Good luck in your pursuit!
Depends on your location/zone.. ranges now encompass all zones so impossible to know your range.. by design
I never understood this myself and its exactly why i stopped applying internal. It's impossible to figure out if its worth the effort. The feedback on here is unclear. Say its 100K-200K. are we saying we should ask for 85% of 200K i.e. 170k? or are we saying the midpoint is 150K and we should ask for 85% of that. I assume this is just base and doesn't factor in bonus. The other thing is the regional pay can make a massive difference, 200K in SF is nothing, the street cleaners make that, 200K in Dallas though is pi-ping it. HR think's they're clever making it unclear and having these 20k-400K type pay bands but all they do is waste people time, have people like me just start applying external only, or if they do take it and find out HR cheated them, they leave.
You should try to get what you are worth, midpoints don’t exist technically, they will offer you 20% raise best case. To get more than that it’s likely multiple people will have to go to bat for you and get the exception approved. If it’s a lateral (range of current role and future are <10% different they will offer you no raise.
Tech is affected
Managers sweet spot is 80% of midpoint, I was told long ago.
There is no such thing as midpoint anymore for salary determination purposes.
Salaries bands are obscured so it's easy to sc--w you.
Go for higher range and they will meet in middle - 90 to 95 is what I reco.
85%
85 to 90.