How wide are your bands if you have only five levels from analyst to director?

Our firm is a management consultancy in the UK with about 480 people and five levels: analyst, consultant, senior consultant, principal, director. Each has a single band. They are currently 60–70% wide and overlap heavily.

The bands were drawn around whatever people were being paid in 2021. Now a strong consultant can out-earn a new principal by a wide margin, and promotion feels like a title change.

For firms with few levels, what range width and progression between bands do you use, and do you subdivide the bands?