You got a promotion. Next, you thought it was going to come with it. But it came with
nothing. If you expected your company to make it rain after you were promoted but you're
experiencing a drought, keep watching. For the best career advice, make sure that you
subscribe to my channel. And while you're there, go ahead and click that notification
bell. I put on your new video every Tuesday. I know you don't want to miss it. In my last
video, I told you how to answer the promotion interview question of why do you want this
promotion? And I hope you watched it already. If you didn't go ahead, check it out if you're
preparing for an interview, but if you did, and now you're here because you got the promotion.
But there must have been an error. Because you were maybe not quite expecting another
zero at the end of your salary... But you were expecting something but nothing's there.
Or maybe it's not very much. And reality hits. You got the promotion, but you didn't get
a pay increase *booing*. So you did but any rational person would do you came to YouTube
or you came to Google and you googled and you found this video. I can get my answers.
Okay, it's totally okay, this happens. And in this video, I'm going to take you through
the four things that you need to do if you're in the situation of having a promotion without
a raise. And just a quick warning. If you're new to my channel, I keep it super real here.
So if you're here expecting some really terrible advice about negotiating for time off that
you're never going to use anyway, that's not what's happening here. There's other videos,
go check one of those out, that's going to tell you what not to do. But I'm here to give
you the real advice, the real lowdown on what to do when you received a promotion that you've
been working your ass off for. But it didn't come with a payincrease, the first thing that
you need to do is you need to forget about the salary surveys. If I had a dime for every
time that a professional came to me with some information that they got off the internet
about what the market is paying for role? Well, I would have a lot of dimes, but they
still wouldn't have any more salary in their pockets. In an ideal world, these two things
match, they should match, let's just be honest here with the market pays should be what you
get when you're promoted. However, especially within a company, there's a lot of reasons
why that might not be, for example, some companies have designated percentages that they get
when they promote someone or they have a cap in terms of how much someone can have in terms
of increase, even in the scenario of getting a promotion. It doesn't make it any more fair.
But it might be the reality that you're facing. So I would be a really bad career coach, snd
I would be so far out of integrity, if I didn't tell you that those things existed. What I'm
here to help with is how you're going to navigate around it. Now, I could give you the statistic
of the average promotion comes with an 8% salary increase. But let me just tell you,
in my experience, this is absolute garbage. I've worked with dozens of clients and helped
them get promotions and I've gotten multiple promotions myself, I can tell you that I have
seen in the real world a range between zero percent, I've actually in one case seen a
salary drop to get a promotion, and I've seen crazy things like a 50% salary increase, which
was one of the ones that I actually pulled off. Now, just because your company has a
policy in place, it doesn't mean that it's a limit. There's always an exception. And
I work with exceptions to the rule. So there might be a way that around it. But what I
don't want you to do is I don't want you to deploy the ineffective strategies that most
career coaches are going to tell you. Because I've seen people get burned by this in the
real world. I had one client who was given really bad advice. And she went armed with
her market research about how much more money she should be paid and how underpaid she was.
And you know what it did? Her manager spent the next two performance review cycles justifying
that she didn't deserve a model get ready for the job she was doing, even though she
was amazing. You do not want to put yourself into this position, you don't want to get
into a position where the company needs to defend itself. This is very important if you
actually want to get the salary that you deserve. The second thing to keep in mind is whether
your manager already gone to bat for you. Now, if you're reporting to a director or
VP or whatever, like this, the person that you're reporting to is the person that gave
you that promotion, did they already do the best that they actually could do. And this
is actually something that I personally experienced, one of my early promotions didn't actually
have a very big pay increase, it was really marginal. And I did talk to my manager and
my manager had already done absolutely everything that they could do. It was just the situation
of the company was in that unique position of time, that they were very restricted in
terms of what they could give in terms of salary increases for marriage or for promotion.
So understanding what's already happened behind the scenes, what actually helped me and that's
situation was just knowing that there was people fighting for me, and that they knew
that I was worth more than what I was getting. Now, of course it didn't hurt when that was
all corrected, and I got a massive pay increase that compensated for that shortfall. Now,
maybe it's possible that you ask and they just forgot about that component of the promotion.
It sounds weird, but this could totally happen, especially if you work for a start up and
the person who's giving you the promotion isn't super experienced in terms of promoting
people. Average case scenario is if they've already done as much as they can for you.
And what you need to do is continue along to make sure that as soon as more budget becomes
available, that it is located to you. And actually I have a question for you. Do you
think your manager would go to bat for you? Does your manager seem like someone that's
going to like go up and defend and get you exactly what you deserve? Let me know yes
or no in the comments down below. Another thing to keep in mind when you're looking
at those market rates, those market rates are giving the average of people that are
established in the role, you're very new and role and maybe your company has actually giving
you that promotion without the market rate, because they know that it was a reach, but
they want to give you the opportunity to succeed. Now the third thing is, is there any reason
that you would decline the promotion? Now, I've already mentioned that not all promotions
are created equally. Now, hopefully you already have an understanding of where you actually
want to go in your career. You have your vision and if you don't get started making one by
attending my free masterclass if the promotion isn't offering you any professional growth,
opportunity and alignment with what you actually want to do, and it's not giving you the financial
compensation that you were hoping for, then you need to actually question if it's worth
it. Now, let's be totally clear. In most cases, it is worth taking the promotion, because
any step up the ladder is a step up the ladder. There are however, some rare circumstances
that I've actually seen where it didn't make sense. Now what was people actually struggle
with is determining where it actually doesn't make sense. And that can actually take them
off path in their career. Now, there's obvious things like maybe it's doubling your hours
is doubling your travel schedule, but it's less money, and you're not even interested
in the job in the first place. And it's like a lateral move. Okay, that's not even a promotion.
We're not even talking about that. But there may be unique circumstances where the offer
doesn't match up in terms of, we basically have to do like an ROI assessment on it. And
do keep that in mind in that situation. But for the vast majority of cases, if you're
presented with the opportunity to have a promotion, it is an upper level in general is going to
get you where you're trying to go. And you'll want to accept it, even when it doesn't come
with a pay increase immediately. And finally, you need to find leverage. And I'm not taking
this in a direction that you're expecting me to go in. Because when I say leverage,
you're probably thinking that I'm encouraging you to go and get an offer from another company
to bring back to your company hopes that you get into a situation where they're going to
get you a counter offer. And that's going to get you the salary that you really want.
But in reality, if you actually take that counter offer, chances are you're going to
be gone within 12 months anyways. And if you do stay beyond that 12 months, there's a great
chance that your career is going to have stalled because you are now a flight risk, and they're
not going to want to invest in you in the same way. If you are going to use this as
a strategy, you need to be prepared to leave. But really the leverage that I'm talking about
is understanding the power that you have, and what you're bringing into the organization
in the first place. And this can make a huge difference in terms of getting a promotion
without a pancreas, and getting a promotion with a 10, 20 or 50% pay increase. Listen,
one of the biggest mistakes that people make about compensation is they think that compensation
is determined by the market. But that's not true at all. That's just telling you what
the average person is going to be able to fetch, if they go and take a new job opportunity,
your compensation should actually be tied to the value that you bring to your organization.
And when you understand that your value that you're bringing is above and beyond what someone
can walk off the street and give them you're going to be in a position where you can very
powerfully negotiate for what you're actually worth. Listen, if you want to take the new
title, and you want to bring it into the market and see what you can fetch, totally cool.
In fact, I even help my clients do that. But there's much more value in actually digging
into this because compensation isn't what the market is willing to pay for the role.
Your compensation reflects the value that you bring to the organization, your current
company, or your prospective company that's giving you this up level. This is how companies
are actually appraising their staff. But unfortunately, not all companies are
Hmm, let's say nice. And a lot of them are actually trying to just limit their spend
on staff. So they're going to pay you the minimum amount that they need to pay you for
you today. But the more that you understand your value, the more power that you have in
a negotiation situation, be a during merit, increase time during the promotion, or any
other time that you ask for that pay increase, when the right people at your company, know
the value that you provide on a daily basis, and they understand your contributions as
well as your potential and that you're very instrumental to their ongoing success and
their financial health. They're going to pay you what they need to pay you in order for
you to stay. Not only are you going to be getting the promotion, you're going to be
getting the recognition and you're going to be the seat that you need to be to powerfully
negotiate your income. And ultimately, if you have a career up level that isn't showing
up in your bank account, it's because you're not effectively communicating your value.
And it also indicates that you don't have power advocates that are working for you behind
the scenes to not only give you the opportunities that you deserve, but also the compensation
that you deserve. And there's a lot of reasons why you might not be in a position where you
can effectively communicate your value. And ultimately it generally comes down to one
thing and that is mindset. If you don't have a success mindset if you don't know in Own
your power, not only are you going to be at a disadvantage in a negotiation, you're going
to struggle to be known for being the top talent that you are you need to change this
if you're going to be compensated what you're worth, which is far above the average salary
for whatever you do. And you can begin this transformation today. The best place for you
to get started is in my free masterclass the five steps to get promoted. in it. I'm going
to help you with your mindset as well as some other simple but powerful strategies that
are going to help you accelerate your career. You can register and watch it on demand at
masterclass.capdecasolutions.com and the address is down below. Now, I'd love to know have
you ever actually taken a new role or a promotion without getting a pay increase? Let me know
in the comments if you have if this video was helpful, make sure that you subscribe.
And while you're down there, go ahead and click the like button. And if you know someone
that this is going to help go ahead and share that video as well. Thank you for watching,
make sure that you tune in next week for my next video, I release a new video every Tuesday
and the next one is going to be happens if you didn't get the promotion. But in the meantime,
if you are ready to take control of your career, go ahead. Sign up for my master class right
now. Even if you don't have time to watch this bowl, I'm going to email you the link
so that you can watch it on demand at your convenience. I hope you enjoy. I hope to see
you there. But in any event, I will see you next week and we'll talk soon. Bye for now.