Advice - First time promotion & pay rise request in corp
Discussion
I've been working in tech for around a year or so. I initially started on a short-term contract, but after impressing leadership, I was soon offered a permanent role within the Product team. Due to my circumstances, lack of experience, and the job market, I accepted the position, although the salary was at the lower end of what was offered in London, but there has been great growth and opportunities within the job
Over the past year, I have impressed my manager and upper management. I have worked on and delivered multiple revenue-generating projects. I have enabled my manager to move away from low-hanging fruit tasks and focus on high-level initiatives, as well as contribute to the same initiatives, meet challenges, and receive recognition from higher management. My manager has also been a great mentor and takes time to focus on my growth. Through conversations, he has mentioned he wants my title to change and that I should work towards becoming a Product Manager. Currently, I am functioning as a hybrid and have taken on responsibilities typically handled by a Product Manager and tbh I've gone above and beyond.
Now, this is the tricky part: my industry is currently going through a transition, and my privately owned company hasn't been great with bonuses and pay rises. We receive our budget in December, and I intend to ask for a title change and an adjustment to my salary soon so there's no argument about the budget being spent already when it comes to our reviews at the end of December/jan.
The pay increase I am requesting is 43%, which on paper seems high and scary, but this takes into account my starting salary being on the lower end, my current hybrid role, and the multiple initiatives I have delivered that have generated revenue. It aligns with the median salary for a junior Product Manager in London. Overall, it's not an unreasonable request but i'm also willing to negotiate. I know it's ambitious, but I am going into this meeting with data and facts and the cost of living. I simply cannot survive in London on my current salary.
As this is my first time approaching this type of meeting, and I'm new in the corporate world, I would appriaicate any advice.
Over the past year, I have impressed my manager and upper management. I have worked on and delivered multiple revenue-generating projects. I have enabled my manager to move away from low-hanging fruit tasks and focus on high-level initiatives, as well as contribute to the same initiatives, meet challenges, and receive recognition from higher management. My manager has also been a great mentor and takes time to focus on my growth. Through conversations, he has mentioned he wants my title to change and that I should work towards becoming a Product Manager. Currently, I am functioning as a hybrid and have taken on responsibilities typically handled by a Product Manager and tbh I've gone above and beyond.
Now, this is the tricky part: my industry is currently going through a transition, and my privately owned company hasn't been great with bonuses and pay rises. We receive our budget in December, and I intend to ask for a title change and an adjustment to my salary soon so there's no argument about the budget being spent already when it comes to our reviews at the end of December/jan.
The pay increase I am requesting is 43%, which on paper seems high and scary, but this takes into account my starting salary being on the lower end, my current hybrid role, and the multiple initiatives I have delivered that have generated revenue. It aligns with the median salary for a junior Product Manager in London. Overall, it's not an unreasonable request but i'm also willing to negotiate. I know it's ambitious, but I am going into this meeting with data and facts and the cost of living. I simply cannot survive in London on my current salary.
As this is my first time approaching this type of meeting, and I'm new in the corporate world, I would appriaicate any advice.
Motoring12345 said:
I've been working in tech for around a year or so. I initially started on a short-term contract, but after impressing leadership, I was soon offered a permanent role within the Product team. Due to my circumstances, lack of experience, and the job market, I accepted the position, although the salary was at the lower end of what was offered in London, but there has been great growth and opportunities within the job
Over the past year, I have impressed my manager and upper management. I have worked on and delivered multiple revenue-generating projects. I have enabled my manager to move away from low-hanging fruit tasks and focus on high-level initiatives, as well as contribute to the same initiatives, meet challenges, and receive recognition from higher management. My manager has also been a great mentor and takes time to focus on my growth. Through conversations, he has mentioned he wants my title to change and that I should work towards becoming a Product Manager. Currently, I am functioning as a hybrid and have taken on responsibilities typically handled by a Product Manager and tbh I've gone above and beyond.
Now, this is the tricky part: my industry is currently going through a transition, and my privately owned company hasn't been great with bonuses and pay rises. We receive our budget in December, and I intend to ask for a title change and an adjustment to my salary soon so there's no argument about the budget being spent already when it comes to our reviews at the end of December/jan.
The pay increase I am requesting is 43%, which on paper seems high and scary, but this takes into account my starting salary being on the lower end, my current hybrid role, and the multiple initiatives I have delivered that have generated revenue. It aligns with the median salary for a junior Product Manager in London. Overall, it's not an unreasonable request but i'm also willing to negotiate. I know it's ambitious, but I am going into this meeting with data and facts and the cost of living. I simply cannot survive in London on my current salary.
As this is my first time approaching this type of meeting, and I'm new in the corporate world, I would appriaicate any advice.
Ask, politely, constructively and with your reasons behind it. If possible, give examples of similar roles in the market that pay the level you are seeking*.Over the past year, I have impressed my manager and upper management. I have worked on and delivered multiple revenue-generating projects. I have enabled my manager to move away from low-hanging fruit tasks and focus on high-level initiatives, as well as contribute to the same initiatives, meet challenges, and receive recognition from higher management. My manager has also been a great mentor and takes time to focus on my growth. Through conversations, he has mentioned he wants my title to change and that I should work towards becoming a Product Manager. Currently, I am functioning as a hybrid and have taken on responsibilities typically handled by a Product Manager and tbh I've gone above and beyond.
Now, this is the tricky part: my industry is currently going through a transition, and my privately owned company hasn't been great with bonuses and pay rises. We receive our budget in December, and I intend to ask for a title change and an adjustment to my salary soon so there's no argument about the budget being spent already when it comes to our reviews at the end of December/jan.
The pay increase I am requesting is 43%, which on paper seems high and scary, but this takes into account my starting salary being on the lower end, my current hybrid role, and the multiple initiatives I have delivered that have generated revenue. It aligns with the median salary for a junior Product Manager in London. Overall, it's not an unreasonable request but i'm also willing to negotiate. I know it's ambitious, but I am going into this meeting with data and facts and the cost of living. I simply cannot survive in London on my current salary.
As this is my first time approaching this type of meeting, and I'm new in the corporate world, I would appriaicate any advice.
(*or I'll send you a headhunt email to use as a benchmark
)Leave. Take that experience and go elsewhere. Keep job hopping every 2 or 3 years to maximise your salary potential.
Lots of HR professionals on youtube explain the game. Basically companies rely on employees sticking around to lower their overall wage bill. It s hard to fight this, unless it s a much smaller firm and the people in control of the strategy and budget have visibility of you and your work.
If its a larger corp, with layers and layers of management, with salaries fixed by a HR function, forget it.
It s common they run 2 salary tiers, one market matched for new comers and one for people who stay on long term, below market rates.
The only way to beat this game is to job hop.
No harm asking your current management of course, but you are likely to get a lot more elsewhere, especially if as you state, you have some sterling experience under your belt.
Lots of HR professionals on youtube explain the game. Basically companies rely on employees sticking around to lower their overall wage bill. It s hard to fight this, unless it s a much smaller firm and the people in control of the strategy and budget have visibility of you and your work.
If its a larger corp, with layers and layers of management, with salaries fixed by a HR function, forget it.
It s common they run 2 salary tiers, one market matched for new comers and one for people who stay on long term, below market rates.
The only way to beat this game is to job hop.
No harm asking your current management of course, but you are likely to get a lot more elsewhere, especially if as you state, you have some sterling experience under your belt.
wyson said:
Leave. Take that experience and go elsewhere. Keep job hopping every 2 or 3 years to maximise your salary potential.
Lots of HR professionals on youtube explain the game. Basically companies rely on employees sticking around to lower their overall wage bill. It s hard to fight this, unless it s a much smaller firm and the people in control of the strategy and budget have visibility of you and your work.
While I agree with this, in this instance it sounds like the OP is a very good position to develop themselves and their career and that can be worth a lot more than a simple payrise in the short time.Lots of HR professionals on youtube explain the game. Basically companies rely on employees sticking around to lower their overall wage bill. It s hard to fight this, unless it s a much smaller firm and the people in control of the strategy and budget have visibility of you and your work.
Leave should be option 2 IMO.
Option 1 should gather as much evidence as possible, but present it in a consolidated fashion. This should include reference to all the projects/tasks they have worked on, details of the value added (quantitively if at all possible) and then the details and salary range of jobs at the level that matches expectations. Back it up with being very grateful for the support, help and experience and that you would like to stay with the business and continue to develop.
Be polite, factual and enthusiastic. The worst is they say no and then you can start hunting elsewhere.
Motoring12345 said:
I've been working in tech for around a year or so. I initially started on a short-term contract, but after impressing leadership, I was soon offered a permanent role within the Product team. Due to my circumstances, lack of experience, and the job market, I accepted the position, although the salary was at the lower end of what was offered in London, but there has been great growth and opportunities within the job
Over the past year, I have impressed my manager and upper management. I have worked on and delivered multiple revenue-generating projects. I have enabled my manager to move away from low-hanging fruit tasks and focus on high-level initiatives, as well as contribute to the same initiatives, meet challenges, and receive recognition from higher management. My manager has also been a great mentor and takes time to focus on my growth. Through conversations, he has mentioned he wants my title to change and that I should work towards becoming a Product Manager. Currently, I am functioning as a hybrid and have taken on responsibilities typically handled by a Product Manager and tbh I've gone above and beyond.
Now, this is the tricky part: my industry is currently going through a transition, and my privately owned company hasn't been great with bonuses and pay rises. We receive our budget in December, and I intend to ask for a title change and an adjustment to my salary soon so there's no argument about the budget being spent already when it comes to our reviews at the end of December/jan.
The pay increase I am requesting is 43%, which on paper seems high and scary, but this takes into account my starting salary being on the lower end, my current hybrid role, and the multiple initiatives I have delivered that have generated revenue. It aligns with the median salary for a junior Product Manager in London. Overall, it's not an unreasonable request but i'm also willing to negotiate. I know it's ambitious, but I am going into this meeting with data and facts and the cost of living. I simply cannot survive in London on my current salary.
As this is my first time approaching this type of meeting, and I'm new in the corporate world, I would appriaicate any advice.
From experienceOver the past year, I have impressed my manager and upper management. I have worked on and delivered multiple revenue-generating projects. I have enabled my manager to move away from low-hanging fruit tasks and focus on high-level initiatives, as well as contribute to the same initiatives, meet challenges, and receive recognition from higher management. My manager has also been a great mentor and takes time to focus on my growth. Through conversations, he has mentioned he wants my title to change and that I should work towards becoming a Product Manager. Currently, I am functioning as a hybrid and have taken on responsibilities typically handled by a Product Manager and tbh I've gone above and beyond.
Now, this is the tricky part: my industry is currently going through a transition, and my privately owned company hasn't been great with bonuses and pay rises. We receive our budget in December, and I intend to ask for a title change and an adjustment to my salary soon so there's no argument about the budget being spent already when it comes to our reviews at the end of December/jan.
The pay increase I am requesting is 43%, which on paper seems high and scary, but this takes into account my starting salary being on the lower end, my current hybrid role, and the multiple initiatives I have delivered that have generated revenue. It aligns with the median salary for a junior Product Manager in London. Overall, it's not an unreasonable request but i'm also willing to negotiate. I know it's ambitious, but I am going into this meeting with data and facts and the cost of living. I simply cannot survive in London on my current salary.
As this is my first time approaching this type of meeting, and I'm new in the corporate world, I would appriaicate any advice.
1. Don't delay asking, typically increases are tied to changes in role, not based on annual budget rewards. Better to have an informal conversation with your mentor boss and seek his input in your financial situation, say you are struggling to make ends meet / like to try to buy a property and ask for his thoughts on what might be possible, that you've seen xyzzy vacancy but would rather stay. Ask what scope he has.
2. Assume you wont get 43%, many companies are tied to xx% increase caps, if its a smaller business it might not apply, in many larger businesses it might be a rigid 10-15% increase capped. In which case your mentor should share this, in which case you will be able to determine whether to stay or go.
3. Third option is go interview for the other roles and see how you get on, if you get one then resign and if they value you they will match the package offered..... If not you move and take the increase.
wyson said:
Leave. Take that experience and go elsewhere. Keep job hopping every 2 or 3 years to maximise your salary potential.
Lots of HR professionals on youtube explain the game. Basically companies rely on employees sticking around to lower their overall wage bill. It s hard to fight this, unless it s a much smaller firm and the people in control of the strategy and budget have visibility of you and your work.
If its a larger corp, with layers and layers of management, with salaries fixed by a HR function, forget it.
It s common they run 2 salary tiers, one market matched for new comers and one for people who stay on long term, below market rates.
The only way to beat this game is to job hop.
No harm asking your current management of course, but you are likely to get a lot more elsewhere, especially if as you state, you have some sterling experience under your belt.
If he'd been there 2 or 3 years, then perhaps, but still always ask your employer first.Lots of HR professionals on youtube explain the game. Basically companies rely on employees sticking around to lower their overall wage bill. It s hard to fight this, unless it s a much smaller firm and the people in control of the strategy and budget have visibility of you and your work.
If its a larger corp, with layers and layers of management, with salaries fixed by a HR function, forget it.
It s common they run 2 salary tiers, one market matched for new comers and one for people who stay on long term, below market rates.
The only way to beat this game is to job hop.
No harm asking your current management of course, but you are likely to get a lot more elsewhere, especially if as you state, you have some sterling experience under your belt.
But, to job hop every year is a dangerous precedent. I've seen too many careers damaged that way.
What you're asking is almost certainly against any corporate's HR policy. I wouldn't say anything to your employer until you have an external offer at a level you're happy to accept. They will likely offer to match "as an exception", and regardless of pay cycle timetables, but if not, you'll have the other offer to fall back on
mikef said:
What you're asking is almost certainly against any corporate's HR policy. I wouldn't say anything to your employer until you have an external offer at a level you're happy to accept. They will likely offer to match "as an exception", and regardless of pay cycle timetables, but if not, you'll have the other offer to fall back on
Against policy have a conversation with your line manager for a pay rise to reflect work being done and achievements noted?Getting another offer and using that is, in my experience, likely to be viewed far worse. Counter offers seldom work, starting a mature conversation about your own value does more often than not.
Thanks for all the replies.
Just a few more points to add.
I have definitely considered looking elsewhere, but as I'm only in year 1 of my career, I think it's too early. Plus, the job market isn't great. If I can get the position change to PM, I'm willing to take a hit just for experience, as that would greatly increase my future value and job search. Plus, as I mentioned, the growth opportunity has been amazing, as well as the trust. As I work in Product, upper management has been across all my projects, and I personally won an award and a thank you from our CEO, so they are aware of me.
One of the projects I've led on from inception till GTM is projected to generate 500k in 2026, so I do think I have a strong case.
The 43% increase is also a negotiation tactic. I'm willing to go down to 35%
Just a few more points to add.
I have definitely considered looking elsewhere, but as I'm only in year 1 of my career, I think it's too early. Plus, the job market isn't great. If I can get the position change to PM, I'm willing to take a hit just for experience, as that would greatly increase my future value and job search. Plus, as I mentioned, the growth opportunity has been amazing, as well as the trust. As I work in Product, upper management has been across all my projects, and I personally won an award and a thank you from our CEO, so they are aware of me.
One of the projects I've led on from inception till GTM is projected to generate 500k in 2026, so I do think I have a strong case.
The 43% increase is also a negotiation tactic. I'm willing to go down to 35%
Motoring12345 said:
Thanks for all the replies.
Just a few more points to add.
I have definitely considered looking elsewhere, but as I'm only in year 1 of my career, I think it's too early. Plus, the job market isn't great. If I can get the position change to PM, I'm willing to take a hit just for experience, as that would greatly increase my future value and job search. Plus, as I mentioned, the growth opportunity has been amazing, as well as the trust. As I work in Product, upper management has been across all my projects, and I personally won an award and a thank you from our CEO, so they are aware of me.
One of the projects I've led on from inception till GTM is projected to generate 500k in 2026, so I do think I have a strong case.
The 43% increase is also a negotiation tactic. I'm willing to go down to 35%
As per my guidance below, don’t start asking for 43%, start with an informal conversation with your mentor boss about your need to earn more for x reason. Seek his input on what he thinks might be possible, what would then be possible with a promotion. Make clear you value the development and the role there, no desire to leave, but you are being approached about other roles that pay x etc Just a few more points to add.
I have definitely considered looking elsewhere, but as I'm only in year 1 of my career, I think it's too early. Plus, the job market isn't great. If I can get the position change to PM, I'm willing to take a hit just for experience, as that would greatly increase my future value and job search. Plus, as I mentioned, the growth opportunity has been amazing, as well as the trust. As I work in Product, upper management has been across all my projects, and I personally won an award and a thank you from our CEO, so they are aware of me.
One of the projects I've led on from inception till GTM is projected to generate 500k in 2026, so I do think I have a strong case.
The 43% increase is also a negotiation tactic. I'm willing to go down to 35%
It s because the OP said he is finding it a struggle to survive on his current salary, I think 1st year job hop might be in order.
Although it won t hurt to ask, I m not sure how far he will get asking his current management.
I d look out for them pulling the ‘ not right now but in 6 months ‘ or whatever deferred discussion strategy.
But who knows. Good luck with it OP.
Although it won t hurt to ask, I m not sure how far he will get asking his current management.
I d look out for them pulling the ‘ not right now but in 6 months ‘ or whatever deferred discussion strategy.
But who knows. Good luck with it OP.
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