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Rising Star
It depends on your role and how senior your position is, but one thing’s for sure… promotions aren’t given just for time served. They’re earned through performance, growth, and impact.
If I hit the two-year mark without a promotion, I would be concerned as well. Have you been getting regular raises? Or have you been stuck at the same salary for two years? Because if you haven’t had a raise that’s even more concerning.
I've had regular raises and bonuses. But no promotion
At my company there are two distinct groupings. One privileged, where promotions happen like clockwork every two to three years. Jobs in that group are mostly held by white people. And one not privileged, where promotions take 12 years on average. Jobs in that group are mostly held by colored people. Although this is common knowledge, it is rarely discussed openly at the firm.
It’s funny because in Goldman Sachs lot of DEI people get promoted more often
I think once every 2 years is somewhat fast. But you should be getting one at least every 3 years. If you’re not, look to lateral to get a promotion. I personally start looking for a lateral promotion at the 1.5 year mark. It’s easier to get promotions moving around than staying at one company imo. I’m in Corporate Development
I think it differs in what level that the standard cadence stops. For example, in corp dev, you can expect regular promotions following that cycle if you’re a good performer until you get to director/senior director. After that, promotions will be based on a needs basis. For each career path, that level where the regular promotions stops varies
Tradition promotions only happen when someone else leaves and the role will be backfilled.
Its more likely that you'll get a promotion by applying to higher level roles internally or externally
Ohhh I didn't know that actually . I thought there were classes-- like individuals who come in at the same time -- cohort
Depending the institution but some organizations is 10 years
10 years ... I imagine that's more for director and above.
Rising Star
I don’t see myself getting a promotion ever, unless you count maybe “senior” getting added to my title.
Rising Star
I’d love it to at-least every 1.5years. But two years would work well too.
Has that been your personal experience?
i get a job grade promotion every 2 years (depends on performance but in this firm you have to be really bad not to get it) but my position remains the same, probably takes about 3 job grade promotions before being considered for a positon promotion (e.g. officer -> team leader). job grade promotion is basically a pay bump independent of the annual salary increment so it's still nice nonetheless.
In my department at Stifel? Never. Maybe every 5-7 years. Maybe. But we aren't managed at all. I've been in the same role for over 5 years and promotions aren't even discussed. I mentor and informally lead the small team I'm on, have many years of experience, and have made only 1 lateral role change.
Personally I feel as though they should be as needed when available. Meaning if there is an individual whose shows interest and their actions align with the position they are going for and the position is available then they should get it..
I'd expect pay to go up every year - otherwise I'm looking around. title changes I care less about.