{ "media_type": "text", "post_content": "Need your help please. Currently working on a VP promotion internally and going to speak w/ HR next week to negotiate comp. I’m also interviewing with a competitor but not yet at the comp discussion yet. How can I tactically approach my conversation with internal HR to maximize my number? Would appreciate your insight/experiences please. Thank you in advance!", "post_id": "6158a5abeabe35002abd6174", "reply_count": 17, "vote_count": 11, "bowl_id": "553769a790f5eebe1d2a0f92", "bowl_name": "Finance" }

Need your help please. Currently working on a VP promotion internally and going to speak w/ HR next week to negotiate comp. I’m also interviewing with a competitor but not yet at the comp discussion yet. How can I tactically approach my conversation with internal HR to maximize my number? Would appreciate your insight/experiences please. Thank you in advance!

likehelpful
Posting as :
works at
You are currently posting as works at

Here’s my take: use comp studies to back up your target number for the internal role. Don’t explicitly mention that you’re looking elsewhere; we don’t know what the outcome is going to be yet. Maybe say something like this to HR: “I’m planning the next steps for my career and compensation is a big factor in my decision. According to my research, the upper band for VPs in 2021 was $XXXk, which is the target comp I want to reach. [I received top bucket bonus last year so using the upper band is reasonable.] What can you do to help me make this happen?” You can revisit if the external process results in an offer and say “I received an external offer that is higher than what I mentioned before, but I value the career capital I’ve built up here. If you can match this, I’ll stay.”

like

I like this play. You can also ask them for the comp bands. It’s a massive org, they certainly have comp bands. See if any colleagues (current or former) can give you some insight in advance. Especially if they were in positions to hire VPs. They’ll know what the company pays for internal hired as well as external. Sadly companies still pay up more for external, thus further incentivizing people to leave to go to another shop doing the same.

like

Commenting to receive updates

likesmart

That’s a tough one. Since it’s a promotion, I believe you have leverage. I know someone who negotiated 25% of his salary. Not too shabby for an internal promotion

likehelpful

Arrive at a number and tell HR that you had an offer for your number from a firm but you’d rather show loyalty etc. If they don’t come to match, jump (assuming you get the job).

like

I have a number in mind but have not received an offer or discussed comp w/competitor. Without flat out lying, any way I can word this appropriately? I also have a good relationship with the hiring manager who said he would fight on my behalf. Bit of a complex situation

like

I wouldn’t mention the other process with your current employer’s HR until the competitor has made a written offer. In the meantime, you can refer to industry reports and gather comp numbers from peers. While you do that, it’s worth putting pressure on the competitor, letting them know that you’re expecting a promotion with new comp at $X. Then, once you get that formal offer, will be up to you to balance between pushing each party and focusing which is a better fit overall

like

Don’t mention about external offers as evidence as it is construed that you are already out of the door. Also, most HRs are aware of the pay ranges for the roles at competitors. My take on internal promotions are that you get a small to negligible increase.

like

Interested as well

So can we openly discuss what the industry reports / research say about VP salaries at big banks? I think at JP it ranges from $110k to $200k - all in. My awareness if for the Risk function.

I second JPMC1 (although I do hear that the lower band went down to 120) - that’s my awareness across the business I’m in within CIB

I am confused, are you really working with HR for your promo? Like this is largely all handled by my ED and MD from my understanding. No one in our group would interface with HR for a promo

Related Posts

Does anyone know the salary of a Senior and Lead at BCG Gamma?

like

A friend gave me a referral to a big tech company and a recruiter contacted shortly with a prep doc containing info on what to prep on, the interview format, what type of questions, etc. Before reviewing the prep doc, I confirmed my interest and booked a call but now I feel I am not ready yet although I really want the job. I want to apply after 6 months. What can I do to skip the interview without jeopardizing my future chances?? Please help!

like

What's good practice for negotiating salary of a second offer? Do you renegotiate again if its still below the range you indicated or do you either accept or walk away?

like

I enjoy working at my agency, but received a good offer elsewhere. Has anyone had luck with their current agency matching or beating the other potential role/salary?

like

What’s a typical raise percentage for EY TAS S&O practice for a promotion year vs non-promotion year?

like

Someone on my team knows several people at a company I’m applying to. Is it professional suicide to ask for a reference?

like

Does anyone here work at Workday? I am pursuing an engagement manager role. Looking for more details regarding how the comp structure works (base , bonus, stock etc).

like

PwC Advisory is looking to expand its Cyber practice! Is anyone interested in applying? Please DM!

like

After 2 years at my company (Multi national company with >1k employees) I was promoted to Senior SWE with a 10% salary bump from 85k to 93.5 I live/work in the Baltimore area which I consider Medium COL. Is this a reasonable adjustment for a senior promotion in this area?

like

Came out of a pretty toxic work environment and therapist has basically said I have PTSD. Trying to get past it, while aiming to excel in new team but finding it hard to voice my thoughts/opinions given previous experience. Also experiencing the beginnings of burnout, caring for a 4 year old and full time work. Oh and any thoughts of promotion are truly gone...any ideas on work strategy?

like

What is the salary bracket for a performance manager at a tier 1 global agency in Dubai? I'm evaluating an offer so would appreciate input!

Is it worth getting the SM promotion before leaving? Considering my options

like

Blanton’s Gold Edition to celebrate a promotion!

Post Photo
like

At what point did y’all let work know about pregnancy? Up for promotion this year want to get that promo which I’m cutting it close with yearly review.

like

Ballpark base salary for Manager in S&O at Deloitte?

like

EY FAAS, are you expected to participate in Bus dev efforts and win work as a senior? Also are you solo or have a team/ mentors to work on engagements with? had only 20mins interview, no time for questions. Lol

like

What is the salary range Cognizant is offering for the role of Scrum Master / Manager with 8+ Years of experience in the current market scenario?

like

What is McKinsey’s senior associate experienced hire comp?

What kind of questions I can expect during the Amazon hiring manager interview for a technical program manager role.Amazon

like

Additional Posts

Does anyone know the salary of a Senior and Lead at BCG Gamma?

like

Accenture MC/Strategy vs Deloitte S&O ? For exit opps into f500 strategy groups , prestige , B school admissions, overall project pipeline for strategy work ? Pls no troll answers

like

I reached out to someone in the office to help organize a discussion around mental health in the workplace for Mental Health Awareness Month during May. I know it’s a touchy subject for many people,

like

Can my wife’s dad apply for a Canadian tourist visa while he’s with us in the US on a B1/B2? His Canadian visa expires few weeks back. Or does he have to go to India to apply? Thx

So ridiculous being a resident alien, felt like I got an immigration law degree. Kept explaining why an expired visa doesn’t make me illegal to HR, DMV and basically everyone that’s not a lawyer

like

Be honest; are you tired of the word "diversity"?

like

A friend gave me a referral to a big tech company and a recruiter contacted shortly with a prep doc containing info on what to prep on, the interview format, what type of questions, etc. Before reviewing the prep doc, I confirmed my interest and booked a call but now I feel I am not ready yet although I really want the job. I want to apply after 6 months. What can I do to skip the interview without jeopardizing my future chances?? Please help!

like

What's good practice for negotiating salary of a second offer? Do you renegotiate again if its still below the range you indicated or do you either accept or walk away?

like

Is KPMG 401k contribution every pay period?

like

Currently a educator and school leadership member, with a Masters degree in education..Looking for potential pivot into a new role. I’ve been thinking about education consulting , instructional design or curriculum development. Does anyone have any advice or suggestions with a plan or ideas to make that pivot? I’m looking for more work life balance, better pay and an opportunity to tap into some new skills I’ve acquired since managing a team of about 30 teachers. Please DM me to chat more

like

Whats a business role you wish youd heard about in college other than consulting / PE/ IB/VC 🤢

like

I am in a lower level position and need a few surgeries over the next year. Starting with one soon. How do I approach this with my supervisors and HR? I’m going to be out of office a lot

like

Hello! Anyone aware of openings for remote HR coordinator/generalist in the Greater Philadephia area PA?

like

How best would you promote remote positions world wide? I am new to the world of where I am doing the process 100% on my own.

like

I enjoy working at my agency, but received a good offer elsewhere. Has anyone had luck with their current agency matching or beating the other potential role/salary?

like

Didn’t get stimulus & thankful to be working, but I’ve paid a lot setting up a home office (screens, fax machine, bandwidth.) Normally I only do standard deductions, but can I write it off next year?

like

Anyone ever had to back out hours weeks after a project was finished because it went over budget? (Contd.)

like

Recommendations on a company/job in consulting? Currently an investigator analyst with Guidehouse for a project that is expected to run through the end of the year. Bachelor’s in Business. Working on CFE and MBA. Prior jobs are in state auditing and criminal investigations. I’m new to consulting but I enjoy it so far and would like to remain remote.

like

What’s a typical raise percentage for EY TAS S&O practice for a promotion year vs non-promotion year?

like

Can anyone chat about the KPMG healthcare strategy practice or if there even is one?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal