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pay on promotion

 
#1 pay on promotion
29/05/2013 10:17

Nina1973

Does anyone know what has been the norm lately for pay on promotion at EY?

Do you get paid the bottom of the next grade salary band, or just a payrise from your current salary?

Also does anyone know what the current minimum of the band for a Manager, and a Senior Manager in Advisory at EY is?

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#2 RE: pay on promotion
29/05/2013 10:26

aminoacid07 to Nina1973 (#1)

As a rule, you go to the bottom of the band at the next level.

Typically Manager goes from £60-80k and Senior Manager from £80-110k (this can vary depending on the Sub-Service Line you are in.)

You get car allowance of £4.5k at Manager level, and £5.5k at Senior Manager level.

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#3 RE: pay on promotion
29/05/2013 10:36

Management_Ignored to aminoacid07 (#2)

Based on last years manager promotes, the bottom of the payband for Manager is 55k in Advisory

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#4 RE: pay on promotion
29/05/2013 10:55

Bravehearted to Management_Ignored (#3)

MI - can you list the Advisory grades/titles used at EY in order please from grad to partner?

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#5 RE: pay on promotion
29/05/2013 10:57

aminoacid07 to Bravehearted (#4)

Consultant, Senior Consultant, Manager, Senior Manager, Director, Executive Director, Partner

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#6 RE: pay on promotion
29/05/2013 11:21

rcrl to aminoacid07 (#5)

I remember the immortal line from an old boss that "promotion doesn't always equal pay rise"... i still laugh about that one regularly to myself about 9 years on... He should he gone into comedy full time...

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#7 RE: pay on promotion
29/05/2013 13:10

Management_Ignored to aminoacid07 (#5)

Consultant, Senior Consultant, Manager, Senior Manager, Director, Executive Director, Partner

Probably worth adding that at Director level you tend to take a choice between Exec Director (focussed on delivery/specialism) or Partner route (sell sell sell). You would either move Director to Partner or Director to Exec Director. I can't think of any examples of Exec Director to Partner. Although, the role has only been in place for 3 (??? correct me if I'm wrong amino) years

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#8 RE: pay on promotion
29/05/2013 13:29

aminoacid07 to Management_Ignored (#7)

I don't know how long it's been in place - apologies

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#9 RE: pay on promotion
07/06/2013 02:31

RS to aminoacid07 (#2)

"As a rule, you go to the bottom of the band at the next level."

That's not true at all. Salary bands are much wider than that and there is a lot of overlap across levels. The top salary of a Senior Consultant is not far from the bottom salary of a Senior Manager, and the Manager salary band is centered at that same value.

As a manager recruited at the top of my salary band a few years ago (£78k) I knew a number of senior managers who had not negociated their initial salary well and were actually making less than me.

The true rule is that your position in the salary band is at most carried over when you get promoted. That's a very logical rule for the company indeed:

- when the market is going down, salaries don't increase because revenues are bad and the company needs to maintain profits

- when the market is going up, salaries don't increase because they need cash to pay new joiners hired at the top of the salary band (because the hiring market is more competitive)

If you get promoted and are explained that the rule is that you can only get the bottom of the next salary band, it means that 1. you were in the bottom half of your previous salary band and 2. you are now at the floor and have very little chances to move up. They're probably just trying to fool you with a nice rank name but new responsibilities, higher targets and little or no retribution for that. I'd say it's right time to do that "pay on promotion" leap by joining another company, leveraging your freshly acquired new rank and making sure you don't get hired at the bottom of the salary band with them.

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