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It might not even be at the floor. Depends on your salary now. Usually 10% of your current salary unless you are getting a senior or executive level title. Nothing mandates that they have to give you x amount. I wish it worked that way though and I wish you luck!
I also hate to say this, but they might be looking to give you a bump in pay to stop paying you overtime. Depending on the role, you may no longer qualify for overtime and as such, they'd be getting out ahead. So they pay the same amount, but can get more work out of you with less paperwork as well keeping track of hours.
Almost all holding cos especially the media agencies have implemented and standardized salary bands.
Because during the pandemic salaries went crazy, people got hired at much higher salaries historically, people got promoted with much higher raises than before and frankly many got promoted that really should not have.
So now with bands, generally, you will get promoted to the bottom of the band.
This gives them room for you to get raises without actually giving you a promotion.
Bc if you get a promotion into the middle of the band, you will have less room to get raises before the next level of the salary band.
That means it limits them, and if you are not ready to get promoted to the next level, then their hands might be tied financially.
And then you are not happy and might leave.
Salary bands and standardizing them is basically a retention strategy.
Appreciate the context here! I figured as much, I had the same thing happen at IPG. Wish it wasn’t so rigid, the increase from the top of one band to the bottom of another is going to end up being nominal in this case.
I feel like this is really random; I got a VERY generous bump going from a Sr Associate to a Manager/Supervisor at WPP. But that was a few years ago, agencies have become cheaper since - that WPP agency included.
You’ll probably get more of a bump from associate to manage because you’re losing out on the labor protections depending on the state. Once you reach a certain amount of money they no longer have to pay mandatory overtime and give you mandatory breaks. This really depends on the state though, some people made less money as a manager vs associate because of the OT. This wasn’t at WPP though.