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yes, salary bump but not always one that puts you in range as someone who may have been hired externally with your new title. in my experience it’s been a percentage of my previous salary (10-20%).
Pro
10% is normal. Echoing SAD1 that an external candidate will typically make more.
Try to see if the company will share the salary band. Transparency is critical, cause once you fall behind you never catch up
Pro
It depends. Sometimes people are given a title bump in lieu of a raise to keep them happy.