In such a situation, it may be difficult to ask for more money and at the same time express your gratitude for the recognition your employer is giving you. However, you have the right to negotiate a salary increase with a promotion and the time to do so is during the promotion. In the end, negotiating an increase on top of your annual merit increase can be tricky. But there are things you can do to start the conversation with your manager and even get a salary raise right away.
If you want to negotiate a salary increase or promotion, start by playing the role.
Promotionsand increases are generally retrospective. What that means is that you're likely to get a raise for the work you've done or are ALREADY doing. If you plan to talk to your supervisor about a salary increase or promotion, it may be helpful to track your accomplishments.
A typical annual increase for someone staying within the same company is around 3 percent. But someone who changes jobs is more likely to increase their salary by 10 to 20 percent. That's why it's so important to negotiate a salary increase when you get promoted. Beyond the fact that you should be paid what you're worth, a smart employer knows you can earn more if you take your talents somewhere else.
Sometimes it's easy to fall into the trap of thinking that negotiation is a war, it's “you vs. them”. Changing this mindset is crucial to improving your chances of a successful outcome. So, if you don't offer a title change immediately when you negotiate your promotion, now is the time to ask. Also, if you followed the promotion, they might assume that you are motivated enough to accept a little less than what they could offer to someone outside the company.
My annual review was last week and I started planning to ask for a promotion (and a corresponding salary increase). It seems that it would be easy to negotiate a raise during a promotion, but this is not always the case. Whether you're looking for a salary increase, a promotion, a side move, more flexibility, or anything else that makes you feel valued, respected, and optimistic at work, follow these four steps to put this approach into practice.
The first step in negotiating a promotion and salary increase is understanding what you are worth. There are those who push quickly for higher compensation regardless of expanding responsibilities with a promotion. Knowing how much you are worth is a key factor in negotiations for a promotion and a salary increase.
The second step is having an open dialogue with your supervisor. Don't be afraid to talk to your supervisor regularly; ask them for constructive, timely feedback, and ask them for concrete steps on what they would need to do to deserve a promotion.
The third step is understanding that promotions and increases are retrospective. Obviously you have proven your worth, so take advantage of it by also asking for other benefits when you negotiate a promotion.
The fourth step is being prepared for any outcome. When you find out that you're being promoted, it's easy to get caught up in the fact that you're finally recognized for your hard work. But how can you silence that little part of your brain that cares about looking ungrateful when you ask for more? First of all, remember that you earned this promotion by working hard and that no one has given it to you.
If you can show data that you are underpaid by someone with your experience, education and responsibilities, that may be something your manager can bring to Human Resources to approve your promotion and increase. If you don't get the promotion you're looking for, it might be time to start exploring other options. Just like interviewing, networking, or knowing what to do to get promoted, negotiations are an integral part of life, especially when managing your career.