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Yeah, they want to pay you in "titles" and not money. My first promotion was kind of a joke. Subsequent ones were a bit better because I started negotiating more, and I suggest everyone negotiate as much as you can.
Congrats on the promotion! Honestly, my raise wasn’t huge at first, it felt more like recognition than a big pay bump. But the added responsibility definitely sets you up for better raises and bonuses down the line if you prove yourself. Sometimes that initial step is more about the role shift than immediate $$$
I was around a 15% bump, but I was at the lower end before that. Had I been on the higher end, it would have been closer to 10%.