You’ve been at your current company for three years in a middle-management role. You get on well with your handful of direct reports, and your team has earned a reputation for high-quality work over the course of a number of successful projects. In fact, things have gone so well that your boss has just delivered the good news that you’re being promoted: senior is being appended to your job title, and you’re being given another team, effectively doubling your managerial duties.
This new position is a standard part of the career path at your company for those moving from middle-management to executive-level positions. But it’s not all good news. “As you know,” your boss tells you, “the economic downturn has really affected revenue, at least temporarily. Although we’ve avoided implementing a formal hiring or salary freeze, there’s just no budget to give you a raise at this time. We’ll make it up to you down the road.”
You’re pleased to have been recognized for your work and to have taken a necessary step up the corporate ladder, but promotions are the key inflection points for compensatory changes at your company. You’re concerned that if you don’t get a raise now, your salary won’t fully level up until your next promotion—which could be years away, if it ever happens. Do you try to negotiate for a raise, or hope that when economic conditions improve, your patience will be rewarded? Write a script for what you would say to your boss.
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