Would you accept a role higher in your organization's hierarchy but without a pay raise? Apparently, that's what some companies are offering. According to a Robert Half survey, 39 percent of HR managers say it's common for their company to offer employees promotions without salary increases, up from 22 percent in 2011.
A rising contingent of employees are willing to accept promotions without pay raises. The survey reveals that the number of workers who would accept a higher title that doesn't include an earnings increase grew from 55 percent in 2011 to 64 percent in 2018.
Young workers (ages 18-34) and male workers are most keen on these opportunities, with 72 percent of each group willing to accept them. Only 61 percent of workers ages 35-54, 53 percent of employees 55 and older, and 55 percent of female workers would do so.
Still searching for an answer as to whether you'd accept a more prestigious opportunity without a bump in remuneration? Perhaps consider these tips, which Robert Half provides for workers in such a situation:
- Get details of the new role's responsibilities and expectations.
- Consider whether the position will support your goals.
- Ask whether you can review compensation after being in the position for a few months.
- Request compensation through new perks, such as flexible work arrangements, extra vacation time, or learning opportunities.
- Be diplomatic in explaining why you wish to stay in your current role if you turn down the promotion.