It is important to be ready for a promotion if you are thinking about changing your job. While a promotion can increase your earning potential and make you more money, it is important to do your research and understand what the expectations are for your new title. Also, you should know the current market rate for your title in your locality. For example, a Boise job as project manager will not pay the same salary that someone in San Francisco.
Creating a backup plan to negotiate promotion
Before negotiating a promotion, make sure you're prepared for any possible outcome. Your BATNA is your best alternative to the negotiated contract. This is the best offer that you can make if the deal fails. This information can help you know when to walk away from bad deals.
Listen to the response of your employer
One of the most important things you can do while negotiating for a promotion is to listen to your employer's response. Although you may be able to negotiate a better salary, it is important to consider the costs associated with training and hiring new employees. You should also consider earning more elsewhere.
Offers of compensation for desired reasons without regard to the percentage rise in your current salary
Gather market value data. Speak to colleagues in other companies. Get the support of mentors. These facts will help you make an educated decision for yourself. Once you have a clear idea of your needs, you can begin to negotiate for the compensation you are seeking.
Making a case for promotion based on direct results
Employees often feel that promotion is unfair. 53% believe that promotions should not be based on the performance of their boss, but rather on how they perform. According to the Great Place to Work survey, employees believe that they should own their career decisions, rather than have the organization decide for them. "People should be the ones making decisions about their own futures, not the organization," said Lorena Martinez, a former employee survey implementation consultant. Martinez's experience includes culture transformation and change management consulting. She also helped to drive global expansion at Great Place to Work.