What’s Good About A No-Raise Promotion?
Career coaching: Salary. The obvious” con” of the no raise promotion is that there is no pay-rise. Why should you all take on more responsibility and risk for the same pay? Why would you devote more time to learning and up-skilling yourself in order to better another’s business enterprise with no extra remuneration? On the flip-side, the pros of a no raise promotion are these: You will gain status and experience. You will gain contacts and knowledge. Your CV gains gravitas. The move will put you in the direct eye-line of those who might be looking to hire you at a later date.
Agreeing to a no-payraise promotion can have negative consequences in the longer term. This move can lead to The Trap. Take this promotion on those terms and you might get stuck there. You’ll be earning less than your predecessors did, for doing the same job. This is not great news at a time of rising livings cost and a housing ladder that is impossible to leap onto. That’s a cul de sac trap nobody wants. The wider consequences of acceptance of this deal are that it could devalue the contribution you and your colleagues make. I know finance is only one measure of value, but, if lots of individuals accept this kind of promotion as the status quo, then collectively, wages will get driven down.
Career Coaching: Salary
Here is the compromise that I can see: If you really want the experience of the opportunity, then please do accept it. If you DO accept it then, as a favour to yourself and your colleagues, be really clear how long you will accept it for at that wage level. If you agree to step up for 6 months, make it clear that if they want you to stay then they will have to pay you commensurate with your position.
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By the time that 6 months is up, you will be up-skilled and in a position to look further afield for someone who will pay you what you are worth. It is an ’employees market’ right now so you have the opportunity to apply outside of your current organisation with experience at a higher grade. This is not the time to be overly-grateful and flattered by the offer of a no-raise promotion. Neglecting to contract does everyone a disservice in the long run. If you are courageous enough to be clear about your limits and boundaries this can be a real win.
Go On! Negotiate – I Dare You!
You can Find Rebecca here at the Daemon Career Coach