Focused departmental work, but pay lags behind market rates - Financial Analyst QBE Employee Review

There appears to be a substantial gap between current compensation levels and market rates. In some cases, salaries are reportedly comparable to levels from 5–8 years ago. Providing a 5% increase as part of a promotion, when the employee’s pay would still be approximately 50% below market, may not adequately reflect the increased responsibilities associated with the role.