Congratulations on your promotion! Your hard work is finally paying off.
But wait, was a mistake made?
There will be no salary bump to accompany your fancy new title and additional responsibilities.
In fact, when you calculate how many more hours you’ll need to work in your new job, you’ll be taking a pay cut!
If this sounds familiar, you’re not alone. Dry promotions (also known as quiet promotions), where employees are given significantly more responsibility and a new job title, are all too familiar these days.
Here’s what to do if this happens to you.
Understanding Why Dry Promotions Occur
There are a few key reasons why employers may offer you a promotion without increasing your salary:
Budget Constraints
Ah, the good ole “We don’t have any money in our budget for that” line. If you’re as valuable as your company says you are, they’ll find the money to compensate you appropriately.
Employee Recognition
Some organizations view giving someone a dry promotion as signaling to employees that their contributions are valued, although many employees view it differently.
Employee Retention
Companies dole out titles to keep employees from leaving the organization for a more senior position elsewhere. It costs a company nothing to give away a title. The same can’t be said for giving away a raise.
Are There Benefits to Accepting a Dry Promotion?
There may be times when accepting a dry promotion can benefit you. Here are a few situations when this could be the case.
You’re Actively Job Searching
You’ve already decided that it’s time to leave your company. You’ve been interviewing for jobs but can’t seem to land a more senior role. You suspect this has to do with the fact that you haven’t been in a more senior role. A promotion will help you overcome this challenge.
Relocation To A Desired Place
Your new promotion means a company-paid relocation to a place you’d love to live. Bonus points if the cost of living in this new place is considerably less than where you currently live.
You See This As An Opportunity To Fast-track Your Career
A new promotion means exposure to new skills and increased visibility. Taking one for the team now may pay off later when another opportunity becomes available.
Does No Money Really Mean No Money?
If you find yourself in this situation, here are some steps you can take:
Speak To Your Manager
Have an open discussion with your manager about your compensation expectations and why you feel you deserve a raise with this promotion. Remember to mention the value you have added to the company while working in your current position.
Do Your Homework
Gather data on typical pay for your new role and experience level to support your case.
Make A Counterproposal
Propose a timeline for when you can expect a raise, such as three months after demonstrating you’re a great fit for this position. See if you can get your boss to agree to make your new salary retroactive.
Ask For Other Benefits
Consider negotiating for other benefits, such as professional development opportunities, a flexible work schedule, bonus eligibility, and additional vacation time.
Take time to weigh the pros and cons of a dry promotion. Then, do what’s best for you.
Forbes
