It is only a promotion on paper. I would take it for the experience to go somewhere else where you're valued or ask them to put a compensation plan in writing for you. I would also find out what your peers are making, so you can tell them what the industry standard is. Just don't go into this without expectations and/or a plan.
Negotiating is uncomfortable for a lot of people. It seems to be especially difficult for women. We are naturally conditioned by society to be submissive and demure, but that doesn't do us any favors - especially in the workspace. Here is some advice that I have given many ladies over the last twenty years since I began my career, worked through management, and ended up in HR. Think about what you would tell yourself.
The big mistake most women make is undervaluing themselves. I tell everyone to find out what a single, forty year old, white man with comparable experience and education would make in your area. The pay gap is real!
Part of the reason we don't get equal pay is because we do not ask for it. We have been conditioned not to. My dad taught me at a young age that I was "better than the boys", so I found myself asking for raises when my female counterparts were simply afraid to take risks at one company after another as I strategically moved from position to position at one company or another, maximizing my career and earning potential while I left my peers behind. My salary started doubling theirs, then tripling, and I stopped keeping track.... Twenty years later, most of them are in their fifties and they still have not achieved the level of success that I had in my twenties.
If we don't have confidence in ourselves, no one will. The biggest mistake I used to see was people asking for additional money "because they needed it". Please don't ever tell anyone at work you need additional money. Tell them why you DESERVE it. You have obviously earned it or they wouldn't want to hire you! Go after it and reach for those stars! Tell them your worth. Remind them why they "promoted" you!
Then, ask for things above and beyond that they can always say no to that they won't consider "an unreasonable ask". Here are some examples:
- You can ask for flex-time. This is a huge benefit if you are a commuter and/or have children.
- You can ask to work 4/10's instead of 5/8's, so you will have one day a week off. They still have you the same number of hours, but you are free to run errands one day, sleep in, be lazy, clean your house, and not commute. It also saves them on utilities and they get to brag about saving the environment.
- I always asked for two paid weeks off twice a year for continued education that pertained to my position at their expense. It made me better at my job, they were investing in me, it was free travel, and a great networking opportunity (I found other jobs that way as well).
- If they have tickets to local sports teams you like, ask to be one of the first considered. We hate to cook on Thanksgiving, so I used to always get tickets to the Cowboys game until I married a man with a mom that can cook. I had tickets to baseball, football, basketball, hockey, and NASCAR. They even gave me parking passes.
- Every position I worked in had an auditing component. Someone was reviewing our records, so not only can you negotiate a base cost of living increase and merit wage increase (twice a year, your first year if they low ball you - once at 90 days and the other with the rest of the company). The base COL should be 3-5% and I have seen merit increases from 5-25%. You can also ask for productivity bonuses for perfect inspections. If you reach any kind of measurable goal in your position, ask for a bonus for that as well. Be creative!
And, this is the BIG ONE. If you don't get a raise now and are continually paid less than you're worth it adds up. Some people say, it's only $2.50 an hour. It's worth staying with the company, but is it really? How much is it costing you? You're essentially giving them and every employer after them permission to take advantage of you, so that $2.50 an hour, turns into 5k a year! If you work forty more years, that's $200,000 that belongs to you that you're leaving on the table.
You've got this! Congratulations!
PS - Always ask for an Offer Letter and get any special terms and conditions in writing from someone that has the authority to make them happen.
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