If you are considering a promotion in your current job, you should prepare yourself well. Although a promotion will increase your earning power, you need to do your research so you know what your expectations are for the new title. Also, you should know the current market rate for your title in your locality. If you're looking for a job as a project manager in Boise, the salary you would receive is not comparable to that of someone in San Francisco.
Creating a backup plan to negotiate promotion
Before negotiating a promotion, make sure you're prepared for any possible outcome. Determine your BATNA (best option to the negotiated arrangement), which is the best deal if the deal doesn’t work out. This will help you decide when to exit from a bad deal.
Listen to your employer.
Listening carefully to your employer's reaction is one the most important steps you can take when trying to negotiate for a promotion. While you are negotiating for a higher wage, you must consider the costs of training new staff and hiring them. Besides, you will also want to consider the possibility of earning more elsewhere.
Ask for the compensation you want, but don't consider the percentage of your current salary.
Ask for market value data and speak with peers from other companies to find out if you can get a promotion. Mentors are also helpful. These data will allow you to make an informed decision about your case. Once you have a clear picture of what you want, you can begin pitching for desired compensation.
Argument for promotion based upon direct results
The promotion process can be unfair. 53% of employees feel that promotions should be based on performance and not the boss. Employees believe they should make their own career decisions and not let the organization do so. Lorena, a former employee surveys implementation consultant, stated that "people should be the ones making the decisions about their own futures." Martinez has a background in change management consulting and culture transformation and was instrumental in driving global expansion for Great Place to Work.