Hi there, I'm a project coordinator at a financial institution. My manager continuously tells me that I'm doing the full job of a project manager, but I have yet to receive a promotion. Is there any set business rules that you must wait a certain period of time before you can get promoted? I've been in this role since April 2022. What advice can you give me in this situation?

like
Posting as :
works at
You are currently posting as works at

I’d say in your next touch base say “you’ve been saying I’m doing the full project manager job, what is the path for promotion?” As a manager I prefer people being direct (tangent - I hate when people are rude and say “I’m direct” no, you’re rude)
As far as rules for promotion - depends on the company and even the department. When you bring it up your manager should tell you. Also your manager might not have the answers and might have to bounce it off their manager so if they say that don’t get indignant, it’s probably true, but hold them to a timeline - “Can I check back next week” if they don’t offer one.

like

As a sidenote, definitely see if they’ll help cover the cost since they require it to move up.

like

I would bring it up in the annual review. Some banks only give promotions during that time and it is dependent on if there is space for the promotion. For example, if you're a band 5 but are trying to be promoted to band 4. That can only happen if there is a space or role available at band 4

like

Often, you can discuss a promotion when you have an annual review. Since you have not been there a full year yet, maybe they're waiting to discuss when you've been there for a year. I know it's different everywhere, but that's my first thought. Enjoy your holiday!

like

We do annual salary increases every year in February. Do you think it would be worth it to bring this up at the annual review time? And thank you, happy holiday to you too!

like

If it’s an investment bank with corporate titles (associate, VP, ED etc) you may find that they have a policy about how long you must wait before first being considered for VP - and then there is a process that begins in the New Year and doesn’t culminate until the autumn, if you are successful. And they make a big deal of it, there’s a load of fanfare and a department-wide announcement.

Thankfully in smaller more modern institutions - brokerages, private equity firms, hedge funds etc - there’s a lot less faff and it’s down to whatever you can negotiate. But you should expect to serve a year before getting your first formal promotion.

like

Usually a year in the current title is a minimum requirement. That said, if you are doing the work of the higher level role and it is documented as such — you *should* be promoted at your next annual review, I’d say. I do generally believe that - and have seen - that the way to get promoted is to do the higher role, you don’t get promoted as much as your title adjusts upwards to the work you are really doing.

like

It depends on the company to be honest. For instance when I worked for Cerner you had to wait 18 months before trying to switch roles and for the most part that included being promoted. But like others said above, I would be sure to bring it up in your annual review. that really is the best time.

Hi! If you are already doing the job of a project manager, your salary should also be that of a project manager. I know some companies wait for at least a year before they promote their employee.

Same exact boat here. Performing at the same level as higher ups, but not getting the pay/recognition can feel pretty crappy. The dichotomy of getting great exposure in a role but not getting valued properly is a huge struggle for beginning project managers!! Let me know how it turns out!

Related Posts

like

Hello everyone,

I am working in production support right now. And I don't want to work in support anymore.
I want to be Java full stack developer. But I don't know what all technologies are involved in java full stack.
Could you please tell me which technologies I should prepare to be a "Java full stack developer"?

Thank you in advance.

Just had my back to back to back interviews with Deloitte USDC, I felt like my scenario based went extremely well and my behavioral just average. If anyone could provide some insight on how long it took for them to get back to you as well as who makes the hiring decision to ease my mind a bit that would be awesome!

like

...

Client: We have an in-house expert with tons of experience at this.

Post Photo
likefunny

What are some of your worst experiences working in the entertainment industry?

like

Any good recommended books on how to build a scalable product and team? I'm looking for recommendations for two areas: 1) in general laying the groundwork in a startup to have the tools and especially processes in place to scale, and 2) tactical focus on building a SaaS project. I've been promoted into a management role from Dev roots, so need to learn more PM processes to be an effective manager in day job, plus would like to start building my own SaaS solution.

like

How do you recruit for startups? Exhausted from lack of responses from cold networking. What else should I do? I am aiming for roles in early stage startups. Didn’t study or work for long in US so don’t have a strong network.

like

Hello Fishes

How is the WLB, annual hike, work culture in MasterCard?
Role- Middleware

Hi. Looking to transition out of consulting.

3+ years of HR Transformation including HRIS Analysis.
2+ years of Strategy and Operations

Interested in HR Transformation, Human Capital, DE&I, and Strategy & Operations.

Could someone point me in a new direction?

like

Amazon I have an interview tomorrow for the role of Training Manager- Last Mile Delivery Tech. Can someone help me to prepare for it? What kind of questions do they ask? Please share your experiences if anyone has appeared for the interview for same kind of role recently. HR informed me that there will be 5 rounds in total.

like

Hey Fishes,

What is the "Amaze delivery project" in hexaware? Can someone give an overview on the same?

Hi Fishes, Please help me to choose better organization

1. 
Globant - Designation (Semi Senior Engineer)

2. Brillio - Designation (Lead Engineer )

Both are offering me 21 - 23 LPA fixed

YOE : 4.7 Years Skill Set : ReactJs

I Have joining on Monday, Please help me to choose . I am looking for WLB, Job security, growth & work culture

Globant Globant India Pvt. Ltd. Brillio Accenture NTT DATA

like

Any project management roles being hired in the US?

like

Had an offer for 30% more , a promotion to manager, extra week of vacation to switch firms. I love where I am at with my clients and there is a lot of potential there. Should I stay the course?

My yearly appraisal in on the way. I worked for the same client for the last year but in 3 different projects. I received client appreciations in all 3 projects and in addition I also helped my account in creating proposals, etc. What should I expect in terms of rating and monitory appraisal. Would be thankful to any genuine advice.

like

Hello, I’m an associate (almost at the one year mark) at a midsize firm on the EPL team. I did about 2 years of employment law as a clerk during school and know that’s what I want to go into. I’ve asked for more EPL work but keep catching PI cases. I second-chaired an employment trial but don’t see any EPL work for the foreseeable future and wasn’t getting as much EPL exposure as I wanted before the trial. Any advice on a lateral move to a bigger firm with a broader range of EPL work?

like

My onboarding in progress in CTS. I have registered with NSR(National Skills Registry) and provided the IT PIN to my recruiter. Do I need to raise a request for EBC(Empanelled Background Checkers) verification at NSR?

like

How many years of experience did you have before you went client-side?

like

What is the best method to learn SAP finance? Do people have recommendations on a specific book, website, or other best practices to learn it?

What's the best job in FAANG companies for an IELTS instructor with 6 years experience?

like

More Posts

10/06 Thread (BC):

like

So, what happens if you miss your utilization/billable hour target by like 70-150 hours? Tons of "impactful" PRD work

like

Overheard onsite this week: “we’re making huge margin whoring these analysts out here”

likefunny

How do I not hate my job while being bored to death? Open to ideas!

like

How do people battle burnout?

like

Hello fishes/sharks, what is the average hike conidering an average performance, and what is the tentative promotion cycle for band 30 BA

Answers need not be accurate, tentative works

like

I was asked in pwc sdc interview to come to bangalore location once i get selected. Can i still request for wfh?

Average salary for EY - Manager Federal Tech R. DC metro area? 5 years of experience.

It gets above 65 degrees and the city smells like garbage again. Forgot about that

funnylike

Don't mean to be rude. Plz tell me if this is rude. But whats your religion? Assuming it's ok to ask since we're all anon. I'm a non-practicing but was born in a Muslim country. Agnostic maybe?🤷🏻‍♂️

likefunny

Considering getting highlights and/or extensions for my wedding. Is it worth it? Or is it a bad idea to update your hair for the wedding?

like

Hi Everyone, I have recently received my PR and am planning to land in Canada by September end. Please let me know if there are any job vacancies available for .net full stack developer that you can refer me too. Thanks in advance

like

What internet speed do u pay for to be confident you can work at home properly?

like

Anyone else have bipolar disorder? I really have a hard time when my boss says I didn’t do something entirely correctly I can just completely spiral out of control if I’m in the wrong mood cont.

Ive been using botox fairly consistently for 10 yrs and m happy with the results. However, for financial reasons Im thinking of taking a break for 12 months to save the extra money.

Will stopping botox for 12 moths undo all the progress I've made? (I am afraid of rapidly aging like the Nazi from Indiana Jones and the Last Crusade - nightmare fule).

Also, any adfordable akincare products I should use during the 12 months?

like

Any parents who are still on the safe side with Covid? We have a 1 year old and being safe and staying mostly home is really getting to me. Most of our friends have kids who are able to mask up or are vaccinated and it’s getting quite isolating. Especially now mask mandates are being lifted feeling like we can’t go anywhere without risking our kid.

I’m a new winter grad and I feel absolutely horrendous. As much as I don’t want to admit it I’ve never been more depressed in life. It’s not even bc I’ve lost the stress from school, it’s that I really don’t look forward to my job.

I’ve always wanted to travel the world but I’m in finance and in the role I am in there’s no way for me to do that. I’ve also always wanted to start some kind of food business but it feels like a pipe dream especially given the risk and trade off. Any suggestions?

like

What do you do to fight burnout? Got a raise yesterday and will get another in September, for dealing with a lot of stuff, but I can't shake the burnout.

like

How do we get others to join Fishbowl? There are currently only 15 of us from the company and we have about 2000 employees now.

like

Additional Posts in Finance

Any insight on CAIA? Difficulty and whether it impacts salary?

like

Starting to interview at VCs and HFs - any advice? Three years in PE under my belt.

like

📊 Poll: Is Snapchat worth it's 3 billion 💵💵 IPO valuation?

like

Roth vs Traditional 401k, thoughts?

like

Former consultants, is the life on the other side really so bad?

like

I need some good career-development or finance-related book recommendations

like

What does the long-term career progression look like, both salary and title-wise, for someone looking to get into FP&A-type roles? Can you at some point land roles that involve financial/corporate strategy? One test away from getting the CPA and looking to get roles outside of standard corporate accounting.

like

I really like finance, but I want to be a sole proprietor. Any ideas of what I can do besides making my own hedge book?

likeuplifting

Is it easy to switch from operations to broker dealer side specifically sales?

If you were the only associate on your team, how would you feel about senior mgmt adding another associate to do similar work? Personally I see little upside! Appreciate your thoughts

like

Anyone else feel like they might be on the chopping block?

like

For those trying to leave, how do you sneak interviews in?

like

What is some advice you all can share to move up the corporate ladder quickly? If you can, share what we’re your timelines from position to position!

like

How did you guys meet your SO?

like

How is it possible to have positive IRRs when my MoIC is negative? I have several sizable cash flows in first few months then capex for next few months before positive cash flows. Plz help

like

Ok VC firm names - GO! I'll start - Vandalay Capital, with a focus on import/export companies

like

This whole to tip or not to tip debate on Uber is frustrating me. Shouldn't the tip be built into the sticker price?

like

Finance jobs that aren’t a call center. Current licenses SIE-6-63 and I just need to know my options.

like

Did people see an “inflation” adjustment on top of normal performance salary adjustments this year? I.E how did your company react to inflation in regards to pay?

like

When the layoffs hit the BBbanks, where are the first cuts amongst IB, sell side research, buy side research, trading, sales, operations? Maybe rank starting with first out.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal