I earned a promo, but know I am at the lower end of the pay band compared to a colleague hired after me. I anticipate the bump will bring me up to what they are earning, even though I’ll now be a level above. Do I speak up, or just accept whatever is offered?

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Internal promos do be like that.

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Jump ship boomerang at optimal TC

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If you are lower than market, then you may want to talk to your manager. There’s a chance they have discretionary budget that can be used at next salary increase cycle. Don’t think too much or talk about the one colleague though, it won’t help you. And yeah moving company is probably a good fix for TC, but has a lot of other consequences too, good or bad.

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New hires get much higher boost than promos in my experience. But it’s harder to get hired at a senior level and at Google I usually see people getting down levelled even when they come from other FAANGs

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Take the experience and start moving on. Internal promotion = minimal salary

This is not out of the ordinary, but if you're not being paid what your market worth is, significantly, that may be a problem. Compare and despair...

ask what the comp band is for your new level. there's always going to be some variation within a specific role, don't take it too personally. maybe they had more budget to throw around when your colleague was hired. maybe they negotiated hard. in any case, focus on your specific role and your performance and start a discussion with your manager. if you are a high performer, there's no reason to be paid at the lower end of the comp band.

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