GCB5 to GCB4 - Salary Negotiations?

[DragonZilla]

Hi,

I joined HSBC Hong Kong as GCB 5 almost 4 years ago and recently got promoted to GCB 4 role. It's a lead position and i will be managing team of around 7-8 people.
I am currently in process of salary negotiation with HR and was wondering if anyone can help me to get an idea of what should be good range of salary for GCB 4.

I personally think i can negotiate a high salary as i have been highest rated employee within my team for 3 years consecutively and also have specialised skill set.

Some detail about me:
YOE - 10 years in that particular field
Current basic salary - HKD 675,540

Thanks in advance for your responses.

[shri]

This was the last discussion which might be relevant

https://geoexpat.com/forum/26/thread...ml#post3958993

[DragonZilla]

Thanks for replying Shri. I had a look at that discussion. Seems like most of them are saying 1.1M to 1.4M. In my case me asking 1 M is like 70% increase. Not sure if it will fly. Also i am pretty new to the Lead role as recently got promoted.
Seems like 850K (25%) would be a decent ask.

[RobRoy]

Thanks for replying Shri. I had a look at that discussion. Seems like most of them are saying 1.1M to 1.4M. In my case me asking 1 M is like 70% increase. Not sure if it will fly. Also i am pretty new to the Lead role as recently got promoted.
Seems like 850K (25%) would be a decent ask.

You kind of have the answer in that thread, totally depends what department you are in. But yeah seems you have a very low salary for such a senior position.

[chobochobo]

But could you live comfortably in Hong Kong for 1.4M?

[Beanieskis]

But could you live comfortably in Hong Kong for 1.4M?

I think they are already living in HK on the current salary.

[Shiojiri Hiro]

agree -seems low for a GCB 4 role but HSBC have clear comp grids for roles. So there will be a range they can offer you.

[DragonZilla]

Thanks Shiojiri, the problem is i am not aware of the range. My concern is that if i ask range from HR, they might not even tell me the correct info. Hence wanted to ask help from people who are more experienced. Also how much raise should someone usually expect for role change. I am prepared with my facts and figures to negotiate fiercely. The only problem i see is i am not aware of the salary range.

[Peaky]

Internal move so practically you will be fighting very hard to negotiate more than 850k (which is within the band salary range). Even that, as a 25% increment, will likely get some pushback as costs are so tight (not only HSBC but across all banks).

Unfortunate reality is that almost everywhere those who work their way up and stay in the same group throughout their career end up on systematically lower comp than those who throw in a couple of external moves along the way. In the good times when budgets allow sometimes there is room to make big block adjustments to close these gaps, but it doesn't always happen and counts on having managers who are willing to make the case up the line even if it doesn't make them popular in the short term.

[RobRoy]

Internal move so practically you will be fighting very hard to negotiate more than 850k (which is within the band salary range). Even that, as a 25% increment, will likely get some pushback as costs are so tight (not only HSBC but across all banks).

Unfortunate reality is that almost everywhere those who work their way up and stay in the same group throughout their career end up on systematically lower comp than those who throw in a couple of external moves along the way. In the good times when budgets allow sometimes there is room to make big block adjustments to close these gaps, but it doesn't always happen and counts on having managers who are willing to make the case up the line even if it doesn't make them popular in the short term.

Fully agree, worked my way up over 10 years into a senior position, got paid peanuts. Fought like hell, got like a 9% adjustment after getting zero the year before, so it averaged out to like a normal decent salary increase over 2 years and the managers felt they had really gone out on a limb for me. I left for a less senior role and increased my pay with 40%.