What % Increase for a Promotion?
I work for as a developer for a REIT and have been with the company for 2 years. Last week my boss let me know that I'm getting promoted. He didn't give me any numbers since my formal review isn't until next week, but he wanted to give me the good news ahead of the weekend. That got me wondering, how much will my raise be? I was thinking ~20%, but my non-RE/finance friends think that's too high. Any insight would be appreciated. I'd like to be prepared to negotiate a higher raise if it comes in low, but want to make sure that my expectations are inline with reality.
Data Points
- Salary $200k
- Last year I got a 5% merit raise and 1% for COL
- Bonus + RSUs = current target is 60% of my salary. Can under/over perform based on deal performance. Last year I was paid 70+% of my salary in bonus and equity, when the target was 50%.
Last time i was promoted at a REIT it was a 9% bump in salary...
Bonus/equity was 75%, went to 85%.
Probably only 10% salary wise but comp will jump especially if you are going from junior to mid level
What position are you moving from and to? How many YOE?
I don't think my title is super relevant because they can mean such different things between shops. But, this is the equivalent of a 2nd post-MBA promotion (think 4-6 years post-MBA).
You need to focus on getting a higher salary at this point. The pay bump and COL adjustments ended up lower than inflation.
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