What are people seeing for a promotion from manager to a senior manager role in finance? Is a 10% raise decent ?

likefunny
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How much are you making currently? I'm sure you could still be able to negotiate it and push for at the very least 15%. Just give it a go and see what happens. 10% is way too low in my opinion.

like

I'd go for 15 to 20 percent increase in my pay. It may sound excessive but it's actually not. Other managers promoted to a senior position were able to do it by 30 percent or more.

like

Thats just a average hike i feel if your current salary is low compared to market

like

To be honest, 10% isn't that significant of a difference given that it's a full promotion and not just you asking for a raise. Definitely go higher. Maybe 15 or 20 at most.

like

In finance, I’ve never seen a bump in pay. Promotions in title only and we’ll try to make it up with the bonus is the usual line that’s repeated.

like

Well, it all depends. I would benchmark on what the compensation should be for that role taking into account industry, company size, responsibilities and location, not what the raise is.

like

Definitely depends because you can be a much younger or older manager so you might only need a small increase or maybe a much larger increase to boost you to an appropriate SR manager salary

helpful

🤣 we have to check mate, honestly some of the responses to some of the questions are ridiculous I.e. people should get paid because they are older…. If I produce four times the amount of work that Henry buy Henry is 20 years older than me (I’m less than 30) explain how Henry deserves more money for the same role.

I agree experience should mean more money

I am stuck at manager for 7 years now but managed to increase pay by 80%.

like

That depends on a few things. Does it negate your annual increase? If so, that 10% becomes more like 6% because you would have gotten the 3-4 anyway. What is the difference in responsibility? It is a senior manager as in a more experienced manager performing a similar role, or is it an elevated role with higher level responsibilities?

like

That is a pretty average hike. I would shoot for more like 15% If I were you.

par

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