Promotion pay-rise what is fair?
Discussion
4-5% was a pretty common inflationary increase last year, so 8% is pretty low.
However, unless you have something lined up or the job is a nightmare, take it and start looking elsewhere.
If you've not already, it doesn't hurt to say 15% was where your head was at and if they say no, ask for a PDP to get another 8% in 12 months.
Minimum wage is £25k, so keep that in perspective.
However, unless you have something lined up or the job is a nightmare, take it and start looking elsewhere.
If you've not already, it doesn't hurt to say 15% was where your head was at and if they say no, ask for a PDP to get another 8% in 12 months.
Minimum wage is £25k, so keep that in perspective.
AyBee said:
Friendly recruiter you could ask? 8% sounds crap for a 2 level jump when you consider that they'd usually expect somebody to sit at the level between you for a couple of years at least.
That's not a bad idea!InformationSuperHighway said:
Agree.. take the promo and the 8% focus on getting the title, experience at the new level and then jump to a new company as soon as you can.
As bitter of a pill as it is, I may just have to swallow it and look to move asap. McMoose said:
Can you provide the three job titles amended slightly to preserve your anonymity? Current job, offered job and the one in between. 8% is a little on the low side for a one level jump but for a two level jump 8% is insulting.
Have a think about the additional stress that the now role will include and if this will follow you into your time away from work. Then consider how the additional 8% salary will improve your life. Which changes the most?
If you are massively career orientated you might have to take the 8% then jump ship. However money is not the only factor that is important in a job. If your current employer offers good flexibility and other perks the idea of moving might not be all that beneficial for your personal circumstances. I am a work to live type person and only take promotions if the money on the table is worth it. For a two level jump in your shoes I am expecting the offer to be improved or else it gets declined.
The only other thing worth considering is how much you need the additional 8% in take home.
Function Head of Department (e.g. Head of Finance), Department Manager (Finance Manager), Lead Finance Advisor. The 8% would be noticeable, especially since the cost of existing doesn't seem to be reducing any time soon, but whether the additional responsibilities outweigh that additional money is still up for debate. Have a think about the additional stress that the now role will include and if this will follow you into your time away from work. Then consider how the additional 8% salary will improve your life. Which changes the most?
If you are massively career orientated you might have to take the 8% then jump ship. However money is not the only factor that is important in a job. If your current employer offers good flexibility and other perks the idea of moving might not be all that beneficial for your personal circumstances. I am a work to live type person and only take promotions if the money on the table is worth it. For a two level jump in your shoes I am expecting the offer to be improved or else it gets declined.
The only other thing worth considering is how much you need the additional 8% in take home.
Edited by McMoose on Saturday 25th May 07:34
aproctor1 said:
4-5% was a pretty common inflationary increase last year, so 8% is pretty low.
However, unless you have something lined up or the job is a nightmare, take it and start looking elsewhere.
If you've not already, it doesn't hurt to say 15% was where your head was at and if they say no, ask for a PDP to get another 8% in 12 months.
Minimum wage is £25k, so keep that in perspective.
We did receive an inflationary increase this year of 3%, so 8% for a 2 grade promotion feels even more insulting. However, unless you have something lined up or the job is a nightmare, take it and start looking elsewhere.
If you've not already, it doesn't hurt to say 15% was where your head was at and if they say no, ask for a PDP to get another 8% in 12 months.
Minimum wage is £25k, so keep that in perspective.
8% is laughable, that’s more of an annual rise.
Personally I’ve received 25% and 30% for my last two promotions, and 15% annual in 2023, 25% for an external move the other internal.
I generally give people 15-25% if they are stepping up one grade, recently had a lady jump two grades and she got around 35%.
Wife has just moved externally and got 100%! Worst case use it as an opportunity to get more experience at a high level and move on.
If you don’t ask you don’t get, I negotiated the 30% up from 15%, there is always a budget and if they really want you they’ll pay up.
Build a case of why you are worth more, what have you done / achieved, how will the new role expand on that (I.e increase the opportunity / scope), also check local market rates as a direct comparison, take 2-3, that’s what I get my teams to do so I can validate their pay rise.
Nothing annoys me more than a company trying to get the maximum effort / output for minimum reward!
Personally I’ve received 25% and 30% for my last two promotions, and 15% annual in 2023, 25% for an external move the other internal.
I generally give people 15-25% if they are stepping up one grade, recently had a lady jump two grades and she got around 35%.
Wife has just moved externally and got 100%! Worst case use it as an opportunity to get more experience at a high level and move on.
If you don’t ask you don’t get, I negotiated the 30% up from 15%, there is always a budget and if they really want you they’ll pay up.
Build a case of why you are worth more, what have you done / achieved, how will the new role expand on that (I.e increase the opportunity / scope), also check local market rates as a direct comparison, take 2-3, that’s what I get my teams to do so I can validate their pay rise.
Nothing annoys me more than a company trying to get the maximum effort / output for minimum reward!
Edited by Han Solo on Tuesday 28th May 11:55
Han Solo said:
8% is laughable, that’s more of an annual rise.
Personally I’ve received 25% and 30% for my last two promotions, and 15% annual in 2023, 25% for an external move the other internal.
I generally give people 15-25% if they are stepping up one grade, recently had a lady jump two grades and she got around 35%.
Wife has just moved externally and got 100%! Worst case use it as an opportunity to get more experience at a high level and move on.
If you don’t ask you don’t get, I negotiated the 30% up from 15%, there is always a budget and if they really want you they’ll pay up.
Build a case of why you are worth more, what have you done / achieved, how will the new role expand on that (I.e increase the opportunity / scope), also check local market rates as a direct comparison, take 2-3, that’s what I get my teams to do so I can validate their pay rise.
Nothing annoys me more than a company trying to get the maximum effort / output for minimum reward!
This is it, if I was offered 8% for one grade up, I'd have likely taken it with no fuss, but for 2, 8% is an insult. I have requested a meeting with HR and the function head, but it's unlikely to happen quickly.Personally I’ve received 25% and 30% for my last two promotions, and 15% annual in 2023, 25% for an external move the other internal.
I generally give people 15-25% if they are stepping up one grade, recently had a lady jump two grades and she got around 35%.
Wife has just moved externally and got 100%! Worst case use it as an opportunity to get more experience at a high level and move on.
If you don’t ask you don’t get, I negotiated the 30% up from 15%, there is always a budget and if they really want you they’ll pay up.
Build a case of why you are worth more, what have you done / achieved, how will the new role expand on that (I.e increase the opportunity / scope), also check local market rates as a direct comparison, take 2-3, that’s what I get my teams to do so I can validate their pay rise.
Nothing annoys me more than a company trying to get the maximum effort / output for minimum reward!
Edited by Han Solo on Tuesday 28th May 11:55
I appreciate all the input and advice so far from everyone, thank you.
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