Is there a larger raise with a grade level increase? On average, annual raises have been between 2 and 3% from I've heard and experienced. If I get a grade increase with my annual raise, would it be a higher raise overall, like 5%? Bonus target changes too?
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It always depends on where you sit on your salary band. You can be paid into the next salary band and not get promoted. Have had promotions with a significant bump in pay, others with little/no increase....
If you got a promotion you must be well thought of. The threshold for giving promotions it always quite high.
When I got promoted during 2021 I got a 7% raise. I felt blessed at that time as Covid was still on us pretty heavy.
@1xva+1kBjgssv appreciate the polite response and kind words of encouragement! Will do. I highly enjoy my job thus far. -OP
yes, @1xva is correct
It really depends on where you are at in your current salary range. With a promotion they would try to put you in mid range of your new salary range. So probably a 5 to 10% bump up due to a promotion. Good luck but keep your focus on the consistent quality of your work and the ethics of your behavior.
Usually yes on the larger raise for a promotion. It depends on the new grade level whether there is a bonus target increase.