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It’s capped.
Your current agency can also push back on your last day date. I’ve had friends held hostage for 2+ months to “keep the account stable” at Omnicom Agency A after they had already accepted the offer at Omnicon Agency B.
If you’re lower level (or your client hates you) that shouldn’t be an issue though.
With IPG, you have a 10% raise cap if you move within IPG shops. I’ve heard Omnicom has a similar rule - but you should get confirmation.
I would argue above standard! Don’t settle.
Are you applying for a role within the same agency or another firm? If the former, good luck 😂. If you’re switching shops, there’s a much better chance you can negotiate. Regardless, if you are applying for a promotion you should ALWAYS make the case to receive the compensation that’s standard to the role.