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What is the salary range for PL8 ?
Anonymous User
How much yearly hike can one expect at Société Générale ?
"Depends on performance" seems to be a very vague answer.
Can someone please elaborate on a better answer.
Also, Can someone shed some light on promotions?
Is there any policy, like you have to work for X years to be eligible for promotion etc.
Thanks in advance.
Société Générale
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That's why people hop so often in the industry if they want to be paid market rate🤷♂️
It's dumb, but because a lot of people stay and don't ask for raises, it makes financial sense.
Exactly it makes no sense.
Leverage
Pro
If you like your job, commute, colleagues...are comfortable. You don’t need much to keep you happy. It’s a lot of work to find a new job so they’ll do the bare minimum to get you to not take that step. But a new hire has to be wooed away from their current slot or other offers.
Because the big shops use wage suppression as a cost measure- they know plenty of people will be too complacent to leave.
It makes sense when you think about how people behave.
See, by the time that role is out there to be filled, that's greenlit by everyone. There's nothing stopping you hiring. And you want someone. So you're good to go, and you're gonna get what you want.
But an existing employee?? You already have what you want. Plus, paying them more, that's work!
So in the first case it's very easy to do it, and you're motivated. In the second case it's not, and you're not.
Then on top of that wages generally go up, so any new hire is generally more expensive than someone hired previously.
And it all makes sense.
Pro
It’s true- it’s sooooo hard to get raises approved. But new hires if there’s the biz for them or the market rate has changed, easy peasy. Different buckets.
What the market will bear. If you bear such a salary, they will pay it. If you go find another salary that is better, take that. So it is, and so forever it will be.
It’s a broken system, and it isn’t just advertising that does this.
I agree, it’s super annoying and makes you feel unappreciated - like the talent they have isn’t worth who would replace them. That said, it’s the system. Even though it sucks, your best bet is to hop.