How to negotiate salary for internal promotion

Getting promoted internally is an exciting time for anyone, at least in college it was for me. The dream is to get that title with a nice raise and financial recognition for your hard work. However, there are many practices used when interviewing new employees but not many are exposed on how to negotiate salary for promotions.

If you’re considering a promotion, congratulations! You must be doing something right.

But before you get all excited, there are some things to consider. You’ll want to make sure that this is the right move for you and your company—and that you’re ready for the extra responsibilities that come with the job title. In this article we’ll also find out negotiating salary internal move, average salary increase for promotion to manager.

How to negotiate salary for internal promotion

Introduction

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Outline of the post:

Take note of the competitors’ salaries for your position.

Now that you know what your manager is expecting to pay for this role, it’s time to look at the other end of the spectrum. There are two ways of doing this:

  • Competing companies
  • Similar roles at competing companies

Let’s start with the first option. If you do not currently work in an industry with many competitors, then get creative and think outside the box! The more comparable industries will be ones where your role could be compared to theirs—for example, if you manage a team of developers across multiple locations, then consider managers who have teams across multiple locations within their own organization or those working in similar companies as potential competition.

Know your worth.

You need to know your worth. This means understanding what you can bring to the table, as well as how valuable your skills and experience are. You also need to consider how much value you place on yourself.

Make sure that you know how much money is typical for someone in your position—and whether or not it’s reasonable for what they’re doing and how long they’ve been doing it—as well as what salary range is fair based on industry standards (here are some resources). Then make sure that your expectations are reasonable within this range: if possible, look at other companies with similar roles in comparable industries who have similar employees with similar levels of experience and education who earn about what you’d like to earn. Now look at yourself: do all these things add up? Will it be difficult for them to say no?

Do your research.

When you’re going in for a salary negotiation, the only thing worse than not knowing what to ask for is asking for too much and getting laughed out of the room. To avoid this situation, do your research first. Look at job postings, salary surveys and internal pay scales. As we mentioned above: if possible, look up salaries from other companies in your field as well as other positions that have similar experience levels at your own company (this might take some time).

This will help you figure out where you fit into the picture—and whether or not it’s worth asking for more money than what you already make.

Add value to your worth.

When marketing yourself as an employee, it’s important to add value to your worth. This is especially true when negotiating salary for an internal promotion. Asking for a higher salary than you currently make will be difficult if you can’t show that your new position would offer more value than what you’re currently making.

Make sure you have a clear understanding of what the company values and where they see themselves heading in the future. It’s crucial that your role aligns with their goals and objectives so that you can show how adding those skills into their organization will help them reach those goals more effectively than before.

A clear understanding of the value you bring will help you negotiate a fair salary when you receive a promotion

When you’re promoted internally, it’s a different ballgame than when you’re hired from outside. An internal promotion is more likely to happen quickly and may not include the usual negotiation process that comes with external hires. As a result, your salary will be determined more quickly—which means that your negotiation skills need to be on point. In addition to knowing your value in this position, it can also help to know what others in similar positions earn so that you have an idea of what kind of salary range would be acceptable for this role.

Here are some tips for negotiating internal promotions:

  • Get clear on what your responsibilities will be as part of the role before deciding how much money you want
  • Set up meetings with HR or other appropriate people who can provide information about pay ranges and compensation packages (if available)

negotiating salary internal move

After you passed the interview process, then you move forward to the offer process and salary negotiation phase. Typically if it’s the same job title, you don’t get a raise for internal transfer and you don’t need to sign a new offer. However if you change job titles during the internal transfer, they will ask you to sign a new offer, then the offer package is negotiable. Check with a coworker whose done an internal transfer before and see what their experience was like. It doesn’t hurt to check with the hiring manager or HR for a potential raise, so might as well always ask!

average salary increase for promotion to manager

It’s important to negotiate a promotion salary increase because your employer will, in all probability, be aware of what it would cost them to hire and train a new person for the role you’re taking on. They may also know that you could possibly earn a higher salary if you applied for the same position at another company.

Promotional increases within the same company typically amount to around 3%, whereas a person that switches jobs can expect a pay raise of about 10% to 20%. What’s more, you may receive a promotion without any accompanying salary increase. In such a situation, it can be challenging to ask for more money while simultaneously expressing your gratitude for the recognition your employer is giving you. However, you have the right to negotiate a salary increase with a promotion—and the time to do so is during the promotion. Management may even anticipate that you will do so.

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