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How much yearly hike can one expect at Société Générale ?
"Depends on performance" seems to be a very vague answer.
Can someone please elaborate on a better answer.
Also, Can someone shed some light on promotions?
Is there any policy, like you have to work for X years to be eligible for promotion etc.
Thanks in advance.
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I have had to be super direct with people like this. “You still have growth in your current level; I will not talk about promotion readiness until you have demonstrated solid performance at-level and you’re not there yet. Here is what I’m looking for …”
Understand the staffing issue but how can you promote someone based on 6-months worth of work? I had this too for a couple analysts and just told them it isn’t a good look to constantly look for affirmation/ assurance. If they’re doing a bad job/ not on track to get promoted, I’d let them know. Gotta just be upfront and honest.
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I mean, I would be honest with them by clearly laying expectations for performing at the next level. And then I measure them against that - and if they aren’t on the pace they think they are you have to be really candid about where they have gaps.
But I’m also against the “pay your dues” culture. If someone really is outperforming and stepping up then they deserve to be promoted, even if it is 6 months.
They can be hyper focused. And they should be promoted if they fit the bill. I think in these kinds of scenarios, it’s good to outline what it takes to be a manager and what are other factors that impacts promotions
For instance , if they’re asking that , they are probably not ready. I imagine a manager should be able to own their career and make a business case for themselves vs “are we there yet”. Do they know what a manager does ? Have they talked to other managers ? Are they even great at their current role? What are the facts to support that? A higher position requires more varied experiences. Is it even possible to get that in 6 months ? Are they seen as manager ? By their peers, other managers , bosses or clients ?
Idea should be to give them all data points vs a checklist.
This, thanks! They came to me a few months back and said “I’ve mastered all my tasks” but then said they’re at max capacity also. 🤔
By telling them exactly what you’ve written here.
Tell the jump to their next level normally happens after X time. Whether that is 2 years or 5 years. Just tell them so they stop asking.