Recruiter said any promotion after 6/30 means no pay increase until 1/1/25.
Have never heard of taking a (new) promotion at prior the position’s pay for 6 mos. being a banking industry standard.
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Did you try to address this every year? Also any stretch goals didn’t help? What is your current base pay after 3 yrs of struggle
Was promoted thru a job change in August a few years back. Pay did not increase until the next year. It took 3 years to get to where VPs hired of the street were on day1
This is the result of recent banking exec collusion on the subject, WFC has rolled out the same stupid S.
when are 6/30 promotions usually held, or when do people find out? Is there a deadline?
Promotions to officer levels are usually announced once a year. You can be moved into the position (promoted position) before but that does not mean you will get the title if they feel you are not up to it or if you are not "in sync" with senior management.