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.
Good luck OP, sounds like you have your head screwed on.
As others have said, the greatest way to maximise salary is to job hop every 2-4 years. One thing I would add, is be prepared to walk away. I was in a similar position years ago, was relatively underpaid, asked for an increase and gave my reasons. Effectively they said no (they did give a payrise but was not happy with the amount). A week later I handed my notice in to great surprise from my boss.
They know what they are doing, hold on to employers giving 3-7% increase each year/term and it keeps wages at a minimum.
I will say don't go in with false pretentions, if they are not willing to bend then I would seriously consider moving.
As others have said, the greatest way to maximise salary is to job hop every 2-4 years. One thing I would add, is be prepared to walk away. I was in a similar position years ago, was relatively underpaid, asked for an increase and gave my reasons. Effectively they said no (they did give a payrise but was not happy with the amount). A week later I handed my notice in to great surprise from my boss.
They know what they are doing, hold on to employers giving 3-7% increase each year/term and it keeps wages at a minimum.
I will say don't go in with false pretentions, if they are not willing to bend then I would seriously consider moving.
TheHeadhunter said:
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*.
(*or I'll send you a headhunt email to use as a benchmark )
I love PH. (*or I'll send you a headhunt email to use as a benchmark
)
Good luck OP, sounds like you've got a solid rationale and if they value you they should be open to recognising what you're bringing to the company.
No harm in aiming high (with justification); you can always negotiate down but not up.
wyson said:
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.
OP is in year 1 of his employmentAlthough 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.
I think it's premature to propose a job hop as a solution.
He should speak to his management, explain his situation and benchmark against similar roles. Simple, factual.
If they reject or stall him, then it's time to look for something else.
wyson said:
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.
Seen this many times and had it happen to myself.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.
Convinced to stay. Another year goes by. Nothing
Ive only once handed in a notice and got a small payrise to stay but that I assume now was because they had no one else .
If he did stay I think they'd have is he going to leave again in the future and he wouldn't get much further
( this is what I've had and seen)
Worked in tech a while (UX)
I job hoped for 3 years and managed a 33% increase, but then stuck with one company for another 8 years, again about a 40% increase in that time. One of those where a 25% increase followed by 10% 4 months later, two designers quit and I was working 6am-10pm 7 days a week for 4 weeks. No negotiating on the table purely a thanks and the increase / title to senior.
Biggest jumps have always been by moving, Im currently up 235% vs 5 years ago thanks to 3 job hops (and a new country)
You can ask but make sure you have evidence why you deserve it, if they say no be prepared to look elsewhere, but dont burn bridges, if they say no then ask them how you can do to get there.
I job hoped for 3 years and managed a 33% increase, but then stuck with one company for another 8 years, again about a 40% increase in that time. One of those where a 25% increase followed by 10% 4 months later, two designers quit and I was working 6am-10pm 7 days a week for 4 weeks. No negotiating on the table purely a thanks and the increase / title to senior.
Biggest jumps have always been by moving, Im currently up 235% vs 5 years ago thanks to 3 job hops (and a new country)
You can ask but make sure you have evidence why you deserve it, if they say no be prepared to look elsewhere, but dont burn bridges, if they say no then ask them how you can do to get there.
With all due respect OP, you have one year of relevant experience. Your focus at this stage should be to get 3-5 years of experience first. This will progress your career (and paycheck) far more.
Look at job ads in your field. Ill bet there's none that look for "1 year's experience". It'll be graduate, then 3-5 years, then "5 or more with specific experience in X".
Right now, your boss could replace you with a graduate with no experience. Thats what's going to reflect your "value".
But if there's graduate jobs paying significantly more than you're currently on, and can offer similar experience opportunity,by all means go for it.
M.
Look at job ads in your field. Ill bet there's none that look for "1 year's experience". It'll be graduate, then 3-5 years, then "5 or more with specific experience in X".
Right now, your boss could replace you with a graduate with no experience. Thats what's going to reflect your "value".
But if there's graduate jobs paying significantly more than you're currently on, and can offer similar experience opportunity,by all means go for it.
M.
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