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Lol is this still a thing? 25/F/NYC/No kids
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Alas, I don't qualify.

I got the job. That is all.
Cool job offer for AD

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How are being undervalued? Please provide examples. Need more context for "feeling" that way versus actually being treated that way.
As a side note, it's very hard/rare to love your team and working with people you like has tremendous intangible benefits to your job satisfaction. Before you jump shops just because it's commonplace these days, have you discussed your career goals with your supervisor and developed growth goals? Feeling bored because you're going through a dry spell at work and changing jobs is not a wise way to manage your career.
Hi - Promotion. Pay raise. Why are you asking this again?
Yeah, but if you spend 2-3+ years at your at your next agency...no one will call you a job hopper. One job doesn't make a pattern. But if 5 jobs in 5 years later...
My managers have dangled carrots at every performance review so I'm not sure what else I could be doing, I work in London so my current salary makes it impossible for me to move out (I'm mid 20s). Thanks guys for your different perspectives though, lots to think about!
Unless the new agency sucks.
I guess my main concern is that only a year at a respected WPP agency will look questionable/make me less employable in future? Idk, I'm loyal and love my team :(
It's normal. I was at a publicis agency for 8 months when I switched to my current role at an independent shop. Was so worth it.
Changing jobs after a year is pretty standard these days... it's not a negative. Go for it.
Agree with AD1. If you're bored then maybe you're not meant to be in advertising.
OP, your review must include a development plan with actual measurable goals for you to achieve to secure a promotion. In the absence of one, they're just bullshitting you about the promotion/can always give some nebulous answer about how you have "potential".. Request a meeting with your immediate supervisor to discuss your career path for the next 1-3 years and go from there, insisting on a development plan. Be prepared with suggestions of your own on things you want to work on/achieve. Make them very specific. Also, ask your boss or HR to give you the job description for the next level above you and compare it to your current level description. Do not assume doing well at your job is a basis for promotion - you ARE supposed to be doing your job well as it is. Doing above and beyond is what builds it up to the next level, but what that is must be discussed and outlined in writing in order for it to hold water. If they're not invested in helping you with the process I describe, then look for new job opportunities.