“Wow, there is good news for you. The manager has promoted you from an associate director to a director.”
“So, initiate your new journey, which has got a lot of unique opportunities for you.”
“But wait, there is one thing I want to tell you. You have got a promotion without a pay increase.”
Just as your colleague spills out such sentences, you get disheartened.
Promotions without pay increase are becoming common nowadays. Such propaganda helps the organizations to fill up creative job opportunities without augmenting their expenses.
According to research, approximately two-thirds or 63% of the employees take up promotions without any pay increase.
Another survey from OfficeTeam shows the statistics from the viewpoint of hiring managers. It states that approximately 39% of the hiring manager usually proffer promotion opportunities without a pay increase. This data is 17 points more than similar information of 2011.
However, one disadvantage can help you to procure several other advantages as well. Such benefits relate to greater visibility, recognition, and opportunities.
Moreover, you can handle promotional opportunities without pay increase by the following tips and strategies:
Just as the hiring manager conveys a promotion to you, do not say thank you and exhibit your gratitude. This is because such a decision determines your career path and financial stability.
So, you should think over upon your decision and solicit for some time from your manager. During this time, you can fabricate a draft listing the crucial points you want in a job.
You can also have a word with your financial advisor. He or she can tell you if the current salary is enough to cover your expenses. Moreover, the new job may compel you to work for longer hours. So, you can consider such attributes with your requirements.
Researching about the promotional job opportunity is crucial as it directly relates to you. You should also check whether your long term career goals align with the requirements of the job opportunity.
Researching helps you to know your worth. You can surf the websites of different companies which proffer similar job posts. Then analyze their salaries with your earnings.
This will help you to know the ideal wage of the promotional opportunity.
There are two things for which the employee must negotiate.
First of all, he or she should negotiate the salary of the promotional job opportunity. This is because no matter if the promotion is without pay, you must always give your best to expand your benefits.
The research which you conducted earlier will help you in this regard. You can formulate an impressive speech with authentic facts to persuade the manager for higher pay.
Apart from the salary, dealing with the non-pay benefits has greater chances to help you. Such benefits integrate additional pieces of training, augmented projects, good title, flexible working opportunities, or remote working facilities.
Moreover, you can solicit the hiring manager to offer you online learning courses free of cost. Or he could help you by giving you more traveling opportunities for various conferences in which you can represent the company.
It can be a possibility that the promotional job has various money incentives. For example, you can earn an annual bonus depending upon your productivity.
But make sure to request for a meeting to concede with the hiring manager. This is because talking in person or over telephonic call has greater usefulness than in text or email.
You can do this by sending a request email or letter to the manager for an in-person meeting.
Many times when the manager proposes promotion without pay, he or she has something in mind. This thing relates to augmented income in the future after a fixed period.
If you get to know this duration, it will serve as an incentive for you to procure the promotion. This is because money acts as an incentive for many people. It is one of the essential attributes for which most of us work.
Moreover, the manager may tell you to complete specific goals, after which he can proffer you an increase.
For example, you may say to the manager that if you can achieve the particular three goals within the first month, then he should give you an increased wage.
Enhance Resume/Cover Letter
One of the best ways to handle promotion without pay increase is to use it to your advantage.
Since promotion will proffer you more significant opportunities and help you augment new skills, you can enhance your resume. With such experiences, you can enrich your cover letter, which leaves a better first impression upon the recruiters.
In an environment where the boss cannot identify your self-worth, work can become a challenge. So, a promotion without a raise will help you with the future job search as, after such a profile upgrade, you may likely feel to change your job.
Also Read: New Career or Career Change at 30: Best Tips
Under such circumstances, you can acquire the promotion for your benefit. Use it to refine your skills and take up various pieces of training and development.
Hence, a non-payable promotion will help you in getting a higher-paying job in the future.
For example, let us say that you were the assistant manager of your organization’s content writing department. The manager gave you a promotion and made you the head of the content writing Department. However, the rise came without any pay increase.
But when flipping the coin, it has umpteen opportunities for you. Such alternatives would help you to augment your networking outreach. It will also help you to learn various technical and soft skills to refine your personality in front of the department’s head.
The head of a department can have cognizance of teamwork, leadership, management, administrative skills, and problem-solving and decision-making capacities.
You can now enhance your resume by replacing the title “Assistant Manager of Content Writing Department” with the “Head of The Content Writing Department.” The new title is much impressive as compared to the older one.
At any interview, most applicants have the required qualifications or technical skills needed for the job. However, soft skills like leadership, effective communication, and teamwork can make a massive difference when candidates are short-listed or selected.
You can learn these soft skills with the new opportunity provided to you. It will improve your chance of procuring a desired future job.
In the end, it is your self-worth that matters. If you think that the promotion is right for your career development or furnishes you with enough non-financial benefits, then you can acquire it.
However, the rise may be useless for you and augment your working hours. This will only lead to more stress and low productivity. In such situations, it is better to turn down the offer.
According to a report, 40% of employees integrate their services with any organization for a high salary.
You should never let your manager or colleagues treat you as a doormat. Handling promotion without any pay increase may be a daunting task if it does not satisfy your requirements.