Promotion and raises?

So my boss has hinted that I am up for a promotion this Spring. I have never been promoted at the same company. My move up the ladder has been from moving up positions at new jobs. I LOVE LOVE my job and the company I work for so I am very excited about this.

Question is, since all "promotional pay raises" have come from landing a new gig, I was ready to negotiate.

Now that it is within the same company, how does that usually work? It is one level above where I am now. The responsibility is about double my current. I would have the same boss.

What is the average % raise for a next level promotion? Can I expect 10%, more/less? What I can tell you is that my COL yearly raise this year was 4.5%. It is discretionary and my boss is giving so much to distribute among the team and that is it. So some people on my team may get 1% and some 2.5%, etc. So, considering just receive a 4.5% COL raise, what should I expect? Can I negotiate/should I?

I just don't know how this works.

Also, this is within a major corporation on the island.

Re: Promotion and raises?

I received about a 12% raise when I was promoted about 3 years ago. I went from having no one report to me to supervising a staff of 6 and taking on a whole new level of work.

Congratulations on your promotion!!! Sounds like you truly love what you do and where you work and I feel like that is rare these days!

Re: Promotion and raises?

I would definitely negotiate, especially if the workload is going up by 50%.

My company does not give raises, but I do receive bonuses. On average, it translates to an extra paycheck, sometimes two per month, if I work really hard, so maybe think in those terms.

If you have to supervise I would definitely want extra money for that.

I used to do supervision, and no money in the world is worth that aggravation anymore, but that's a different thread.

Congrats btw! It's great to hear your company is thinking of you. In this economy, all we seem to hear is the negatives.

Re: Promotion and raises?

Congratulations!

As far as how much of a pay increase you can expect, and whether you should negotiate, I think this varies greatly by industry and by the culture and economic prosperity of a particular company. For example, I used to work for a large law firm; my dh works for a large bank - - promotions and salary increases are handled VERY differently in law than they are in banking. Also, if the company is laying off people and not really promoting many employees from within, I think it's a different story than if the company is thriving.

Personally, I would wait to see what the new position entails and how much they are offering, and decide if it's fair. Maybe you can do some research to see what comparable positions in your industry are paying, so you will have a basis for making that decision. But in the meantime, is there anyone within the company whom you trust (someone like a mentor, for example) that you could ask discreetly about how promotions and pay raises are handled? Is negotiation expected? Or is the pay sort of "locked in" at different levels, regardless of performance?

Re: Promotion and raises?

Message edited 1/22/2013 7:15:51 PM.

Re: Promotion and raises?

Promotion and raises?

That's awesome!

Can you maybe research the job title in our area and see what the going salary for that position is? Then you can adjust (inflate) it on top of your current salary? That's probably what I would research first, just to have an idea of #s.

Re: Promotion and raises?

Message edited 1/24/2013 10:44:46 PM.

Re: Promotion and raises?

When I was promoted, I got an increase of about 11%