My manager offered me what’s essentially a “dry promotion”—taking on additional responsibilities and managing a team of five, but without a title or salary increase. I’m currently an AVP and would be responsible for two AVPs and three Officers. She mentioned she would consider me for a promotion at the end of the year, though she couldn’t guarantee it. I’m interested in the exposure and experience, but it’s frustrating that it doesn’t come with any tangible benefits beyond that. Any thoughts?

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Do you want to be a people manager? If it’s what you’re interested in, it can be hard to get a management role elsewhere without experience managing other people. Take the dry promotion, update your résumé to reflect that you are now managing people, stay on through the end of the year for the experience and to see if the promotion and salary increase comes. If it doesn’t, leverage that experience to get something much better.

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What she is telling you is very vague. Pin her down and ask for something in writing. Also if you have an HR department, I would encourage you to ask them questions on this new role and expectations.

That’s a lot of added responsibility with zero benefit to you.

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This is how many promotions tend to happen. But try to pin down more specifics from her on what she's looking for. Come up with a plan yourself and present it to her, don't wait for her ti do it for you

Get it in writing both the workload and responsibilities + a timeline for when you get a title and or pay increase.

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