I've been offered a promotion ! Now I need to talk money- help needed

[Kbear]

I'm in unfamiliar territory

I've been offered a new role - a step up, supervisory, big expansion of responsibilities

No mention yet of "package" - company has been poorly run, it's being turned around, the future is potentially bright

Any tips on how I discuss money/package? I need some actual sentences.... so I don't appear grabby, but my salary should reflect this role or why would I take it on? I don't want to faff, I need them to know I am the strong assertive woman I am currently pretending to be haha

Watching with interest - I'm in the same boat!

1. forget what you're currently on, it's irrelevant. Don't allow them to benchmark to this number because it isn't reflective of the market rate for the role you'll be accepting.

2. does your organisation have pay bands or was a banding applied to the external advertisement for the role? If you can't get it directly, get in touch with whoever they were using to recruit and ask. Information is power.

3. I'd aim for the median pay of men operating at that level in the business. That way you're not asking for something unreasonable but you're leaving room for later pay increases with experience. Don't allow them to include women unless you're very sure your firm doesn't have a gender pay gap.

4). The phrase "pay commensurate with my skills and responsibilities in this role" is your friend.

5. if you can get them to pony up the information above, try to get your (meaty) request in first. First offers in negotiations get used as anchors against which subsequent offers are measured.

6. if info on point 2) above isn't available, try to spend some time looking at the party of other local jobs of the same type/level of responsibility so that you can put a strong case for your offer (see point 5) being at "market rate".

7. don't say yes in the room to the first offer. It takes time to work out the value of a package (pension money is worth more than cash/private health is a matter of preference but comes with tax implications etc), so ask for time to consider it.

8. if you're feeling really manipulative, subtly remind your counterparty that they come to work for pay as well/have no personal axe to grind and that having had this chat you're really looking forward to being able to think of money as hygiene and get on with your exciting new job.

Good luck.

Thank you!

It's a very small company, no real pay scale - one of those where people have been here 30 years and are on big salaries not necessarily relative to the work they actually do and the new people are on less money and take on more responsibility .... although this is now being addressed they assure us.

This is a new role created for me to step into. I need to look at other jobs on Linkedin and do some research

appreciate your input

feeling slightly sick about negotiating this - annoyed with myself about that

Meeting today!

How did your meeting go @Kbear ?

I'm so sorry I haven't been back - I am guilty of a few sunny days away in Spain with "the girls" then a crazy week at work.

So, we had the conversation, outlined my new role and responsibilities, then I just came out with it and asked what consideration had been given so far to the salary package for the role, especially in the light of me taking over a considerable amount of responsibility in future. The person in charge of the meeting said consideration will be given in due course to the salary (role doesn't start until Autumn for various reasons) and of course they wouldn't expect me to step up into this role and remain on the same pay.

I still don't know actual figures, I am going to wait for them to suggest a figure rather than me suggest something and it might be lower than they are thinking haha

Roles are being reshuffled at work and budgets will change so I am happy to wait for this all to happen and then discuss money again.

It was quite stressful, but I am not prepared to take on lots more work and responsibility and get paid the same as my colleagues who do not and I'm glad it's been said and I didn't crumble under the pressure of having to ask about it.