By Sandra O’Connell
When is a promotion, not a promotion? When it means more responsibility and a fancy new title but no bump in pay. Talk about bittersweet.
ADVERTISEMENTIt’s known as a “dry promotion”, and if that’s the scenario facing you, think hard before you respond. Despite the obvious disappointment, there are both pros and cons to what only looks like the wooden spoon of a career move.
Firstly, don’t take it personally, it’s less likely to be about you - and any lack of value your employer puts on you - than it is about taming wage increases.
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ADVERTISEMENTThe post-pandemic period saw employers under pressure to keep pace with soaring inflation. Though still not down to the Bank of England’s 2 per cent target, at 2.3 per cent last month it’s far below the head-spinning heights of 11.2 per cent in October 2022, a 41-year record.
It's enabling employers to take their foot off the salary gas a little.
Gift horse or nag?
But given that the offer of more work for no extra money is likely to leave you with a bitter taste, what would make you consider it?
For a start, money isn’t the only thing at stake here. That lofty title and all those extra responsibilities are going to make you a much more marketable commodity elsewhere, so even if there’s no more money on offer now, think of it as credit in the bank for later in your career.
Before you accept any promotion, seek clarity not just on your new responsibilities and expectations, but the potential for future advancement that comes with it.
Much of a dry promotion’s value comes down to how you perceive it. If you feel it’s an opportunity for miserly employers to squeeze even more productivity out of you for nothing, you’ll likely have one eye on the door already.
Instead, while keeping your eye on that door, why not take advantage of the opportunities that come with it?
If the new role brings new networking opportunities and the chance to build relationships at a higher level, either within the organisation or with external stakeholders, that could be of enormous career value to you when the time comes to consider your next move.
Equally, while the promotion won’t impact your bank balance, it does put you in a stronger position to parlay the offer into something that does have value to you, such as greater flexibility, better health benefits, or better annual leave.
Onwards and upwards
While you’re at the negotiating table, make sure it comes with training and development support, to enable you to build recognisable skills with market value. That will stand in your favour if and when you go back out to the employment market at a later date.
ADVERTISEMENTOnce you’ve gotten over the disappointment, and resolved fears of being hoodwinked, figure out if the dry promotion aligns with your long-term career goals. If ultimately it will contribute to your overall career advancement, don’t dismiss its value as a stepping stone.
If you trust your employer, it can make sense to accept a dry promotion now and focus on the financial aspect later. After all, once you’ve made yourself indispensable in your new role, you'll be in a much stronger position to negotiate that next pay rise.
But if you truly feel you are being taken advantage of, be strategic in your response. Don’t tell them where to shove it, snap up that promotion instead and showcase all your shiny new responsibilities on your newly-minted CV.
