Regarding performance reviews + promotions, how much is a typical promotion bump percentage (ex: senior to principle)? I heard 10%, but not sure if that’s accurate. Does that include the merit?
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@3hsm+1nrBObcM, how the heck do we grow in the pay band with only 2% merit increases every year?
Any males above Principal level get promoted in July?
Manager here - it is all relative to how penetrated you are in your pay band/the pay band you’re going to. The will never put a newly promoted person above mid-point, and more than likely, they will be placed just under mid-point. Otherwise, there is not room to grow over time in the position. Senior - 10% MIP, Principal - 15% MIP, Consultant/Sr. Principal - 17% MIP. Also, do not expect to get above Achieve/Achieve on your next Performance Evaluation.
Your MIP percentage also changes. I believe it is 10% for senior, 15% principal, 18% sr. Prin.
Someone else here can probably correct me and provide other levels MIP percentages
I got 3% at my last mid year promotion. It was during the heart of Covid, so they said they couldn’t give more.
Anything over 10% is going to require additional approvals that generally managers will not want to justify. That being said, anything is possible for those willing to make it happen. The key is to learn what the range and midpoint is for the new position, I.e. principle level, find out about what 90-95% of midpoint is. So if you’re a senior level making say $125k and the midpoint of principle is $150k, 90% of that is $135k and 95% is $142k. A 10% bump would put you in that range. If you’re below that they may look to spread a bigger bump out over this annual review and the mid year to get you there.
I heard if it happens around annual review/merit time, then your combined promotion and merit increase workout to be about 15%. If it happens at a different time of the year, I’m not sure. I also heard from others on Blind their promotions were only 7% (both people had H1B visas).