Promotion - Low-ball salary increase

[6amCoffeeClub]

I have just been notified that I have been successful for a promotion at work (yay!).

They have advised that the position comes with an increased salary, however due to the time of year, my annual salary adjustment (6%) will also be included in the raise.

This means the actual raise is fairly modest (5%), and I just don’t feel that it is worth it for the increased workload, stress etc.

Ideally I would be looking for a 30% increase, which aligns with other comparable roles within the sector that I work in (and this would take me to the midway point for the salary band allocated to the role), however I would be happy if they met me at 20%.

I am already underpaid for the role I currently do and I hoped to use this promotion as an opportunity to bring my salary more in line with the current market.

I have already gone back to my manager to advise that I am disappointed with the offer, and plan to have a meeting next week with them.

How realistic would a 20% pay increase be for an internal promotion?

Without sounding extremely ungrateful, how can I politely and effectively negotiate and ask that they bring the offered salary more in line with my expectations, and what they would likely have to pay an external candidate.

Do you know what an external candidate would have been offered? That would be my bare minimum for negotiation.

I've just done a sideways move and negotiated a 20% pay increase

What's your plan B if you don't get what you want?

I'm not sure...

Either politely decline the offer and stand my ground knowing my worth and remain in my (relatively) stress free role that I love.

Or accept it and use it as an opportunity to enhance my CV (whilst grumbling that I'm undervalued and scouring LinkedIn every week for a new job that pays me the extra 30% 😂)

That's fantastic and gives me some hope! Well done on the new role and the negotiation! 😃

Any tips, please send them my way 😉

Unfortunately not, it was only advertised internally (and I was encouraged to apply for it by the hiring manager). But I would guess a lot more than what they have offered me.