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Imo it depends on the company and the formal HR process. However, if/when I get a Senior PM role, regardless of if I applied or not, I'll consider it a promotion.
Ahhh ok!
In my opinion, your first description is a "new job with higher pay." Your second example is "a promotion."
Exactly! That’s what I believe too.
Technically speaking, it would depend on your company's policies and procedures, as was mentioned below. Many companies have foregone the traditional promotion method whereby you don't have to apply to ensure fair and equitable hiring practices. Instead, they require you to apply even for a promotion your supervisor recommends to ensure all employees are reasonably considered for the opportunity. Personally, if you're moving up within the same company, regardless of how or why, it's a promotion.
That makes sense the way you explained it! Being fair and equitable is important.
It really depends on some organizations. At my organization, they still use “Transfer” and “Promotion” despite both having salary increases. But generally, the term promotion should much better and I agree it’s better to use if you’re moving into a higher role.
Agreed!