I was wondering how often promotions occur in salesforce? Also, how is performance measured and evaluated for promotion? Do you guys get refreshers when promoted or just increase in base/bonus?
Tech promotions are 4x a year. 2x a year for sales I believe. Spot raises/bonuses can happen at any time. Performance is measured by scope of your impact, plus how many people like you from outside your immediate team (endorsements). No refreshers when promoted, it's independently decided. Base pay increase in a promotion is about 8% average. 4% average annual pay increase for cost of living adjustment.
Thank you for the info! When does the annual COL adjustments occur? At the end/beginning of the fiscal year? So a promotion will be 8% increase plus 4% for COL adjustments?
COL adjustment is April 30th I think, and is only approximately 4%. Your team gets 4% allocated to them by total base pay paid to team members in the year, and the manager distributes it according to merit. Most seem to do a flat 4% to everyone avoid drama though. But, if you get a raise, then hit the COL increase, it's 4% of what you got paid in the last year. So it'll come in slightly less than 4% of your new base salary
Oh I see. Does this apply to new hires as well? For instance, if I start work in March, will I still get COL adjustment in April?
New hires would get a pro-rated amount for the year. If you worked 5/12 months before the raise, you get (5/12)×4%. I think our fiscal year ends Jan 31st. So the April bonus is counting time worked up until the end of the fiscal year I think
No you won’t get in April
I see, so at least an year of employment before any COL adjustments kick in?
There is usually a cut off late to qualify and I am sure it is not March
Every quarter and no rsu with promotions. Every year rsu evaluation happens but number is less and less people get it
Okay, so only way to get more RSU is through an annual eval which is less becoming less likely? How do people get promoted? Like do they have to exceed expectations on quarterly goals or just after some number of years?