By Courtney Hazlett – Ladders +Northwestern Mutual
When you find out you’re being promoted, it’s easy to get caught up in the fact that you’re finally being recognized for your hard work. And why not? You deserve to revel in it for a minute. But don’t rest too easy — knowing that you’re being tapped for growth can provide you with a prime opportunity to negotiate. Here are three things worth bringing up with your manager while the time is ripe.
A NEW TITLE
It’s more than an excuse to order a fresh batch of business cards. Your new title is actually an important thing to firm up because it could affect your future job prospects. Staying at one job for a long time shows loyalty, but prospective employers want to see that you’ve grown professionally during that time, too.
So if a change in title isn’t immediately offered when you negotiate your promotion, now is the time to ask. If you’re filling a vacancy, it’s very simple. Something along the lines of, “Just so we’re on the same page, this means my new title will be (name of vacant position),” can get the conversation going. If it’s a little more nebulous, like a newly created role, being direct and simple is the best approach. Try something like, “This all sounds great; at other companies, a job with this description typically has the title of ____. Should I expect the same?”
A typical annual raise for someone who stays within the same company is about 3 percent. But someone who switches jobs is more likely to see their salary jump by 10 to 20 percent. That’s why it’s so important to negotiate a salary increase when you’re being promoted. Beyond the fact that you should be paid what you’re worth, a savvy employer knows you could make more by taking your talents elsewhere.
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Understanding that managers are sometimes bound by policies that limit the amount of a raise they can give, it’s still reasonable to make an ask that reflects a figure that’s in line with industry standards (sites like Glassdoor offer some insight into what those are). Any pay conversation is likely to be awkward, so your greatest ally is confidence. Handling the discussion with poise and facts will go a long way to striking a compromise both you and your employer can be happy with.
You’ve obviously proven yourself, so take advantage of that by asking for other perks, too, when you negotiate a promotion. That might include things like additional paid time off or working from home a certain number of days per week or month. If you’re shooting for the latter, be prepared to make a good case for how working remotely will only increase your productivity — for instance, perhaps eliminating your commute enables you to work longer on busy days. The point is that there should be an upside for the company in your ask.
“Any pay conversation is likely to be awkward, so your greatest ally is confidence. Handling the discussion with poise and facts will go a long way to striking a compromise.”
While you’re thinking about what to negotiate for and how to do it, remember that being a team player is still important. Going after a laundry list can make it appear like you’re losing sight of the big picture, so prioritize what’s most important to you, and keep the tone conversational and positive. While you’re not starting completely anew, a promotion is its own kind of fresh start — and you’ll want your new position to begin on the best possible terms.