You should be prepared if you're considering a promotion at your current job. A promotion will increase your earning potential, but you must do your homework and know what you should expect for the new title. You should also know the current market rates for your new title in your town. For example, someone looking for a Boise-based project manager job will not get the same salary as someone from San Francisco.
You should create a backup plan in order to negotiate promotions
Before negotiating a promotion, make sure you're prepared for any possible outcome. If the deal doesn't work out, identify your BATNA (best alternate to the negotiated agreement). Knowing this can help you determine when to walk away from a bad deal.
Listen to your employer.
Listening to your employer's responses is one of most important things that you can do when you negotiate for a promotion. While you might want to negotiate for a more lucrative salary, you need to also consider the cost associated with training or hiring a new employee. Additionally, you should consider other opportunities to earn more.
Asking for desired compensation, regardless of the percentage increase in your salary
You should gather market value data. Talk to your peers at other companies and seek the advice of mentors. This will enable you to make an educated case for yourself. Once you have a clear understanding of what you want to achieve, you can start pitching for compensation.
Argument for promotion based upon direct results
The promotion process is often unfair. 53% say that promotions should only be given based upon employees' performance and not on the boss. According to the Great Place to Work survey employees believe that they should control their career decisions instead of having the organization make them. Lorena Martinez, an employee survey implementation consultant, stated that people should make decisions about their futures and not the organization. Martinez has a background in change management consulting and culture transformation and was instrumental in driving global expansion for Great Place to Work.