Author Topic: promotion salary negotiating do or don't do?  (Read 2210 times)

nickanthony_05

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promotion salary negotiating do or don't do?
« on: July 03, 2017, 05:44:48 AM »
So I feel like I'm in an slightly odd situation with this one. I've been with this company for about 4 years. I'm hourly right now but on a pretty fast pace upwards. At least much faster than anyone else I know there. They're a family owned business and my direct boss is the owners brother.

Recently a job opened up that would have been perfect for me. I interviewed for it but was ultimately passed up for someone else in the company. I was then offered that person's job which wasn't the promotion I was looking for..... Actually wasn't really a promotion at all.... Same pay as I have now. During that whole process though, my boss who I'm pretty close to asked me what I wanted as far as money goes when I turned down the position they did offer me. It was 10k more/year than I make now.

Now a 3rd position has opened up. This one is even more perfect for me than the 1st on and even though I don't believe in fate, it has me wondering if this all happened for a reason. Basically, I'm insanely excited about this job. I interviewed for and the CFO absolutely loved me. I got the offer 2 days later and they're offering me exactly what I told my boss was what I wanted. 10k /yr more.

The man in me feels compelled to negotiate just because..,..
The rest of me doesn't want to mess around. It's the offer I was looking for and I don't want to screw it up.

Any advice?
Thanks

samsonator54321

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Re: promotion salary negotiating do or don't do?
« Reply #1 on: July 03, 2017, 06:26:53 AM »
I think you already locked yourself in. If you wanted 15k you should have asked for 20k and met in the middle. 

That being said it usually doesn't hurt to ask. However, if I were them I would stick to the 10k offer since you have already  told them that's what it will take to get you to accept.

sokoloff

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Re: promotion salary negotiating do or don't do?
« Reply #2 on: July 03, 2017, 06:40:09 AM »
Basically, I'm insanely excited about this job. I interviewed for and the CFO absolutely loved me. I got the offer 2 days later and they're offering me exactly what I told my boss was what I wanted. 10k /yr more.
Your questioning should be limited to asking whether they'd prefer you sign in blue or black ink.

Even in a large, faceless company, negotiating after having your demands met on the button would go over poorly. In a small, family-run place, it would go over even worse. If you're on such a fast growth trajectory in your career, your path to more money is more contributions and more responsibility and I think it's fair to discuss THOSE topics with the CFO and owner as you begin the new role.

But, approach it as a win-win: you want to understand how success is measured and how you can best contribute to the growth and success of the company. If you feel you need to draw a line between that and your own comp, you can (though it's probably not needed), but do it from a give-to-get point of view, not a "oh, maybe I didn't ask for enough" position that will be interpreted as bad faith negotiations/greed.

nickanthony_05

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Re: promotion salary negotiating do or don't do?
« Reply #3 on: July 03, 2017, 06:48:40 AM »
Alright thanks guys. That's pretty much where my head is at right now.

I know I kind of stabbed myself in the foot but the last offer they gave me for a job I didn't necessarily want was for my same pay as now. It came up between my boss and myself who had no part in the hiring process, what I would have taken for that position. Which was the 10k that I was referring to. Lesson learned.... Always ask or give a number significantly higher than what you want. At least then if they low balled me, I would have felt completely comfortable going back and asking for more.

sokoloff

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Re: promotion salary negotiating do or don't do?
« Reply #4 on: July 03, 2017, 07:04:45 AM »
I'm not sure they "lowballed you" at all. Without knowing if you're going from $40K to $50K or $100K to $110K, it's hard to say for sure, but if it's closer to 40->50, $10K is a big raise and on their side, they're probably  figuring that they're taking a bit of a risk [not every promotion "works out" for the company].

In the long-run, if the company is profitable and growing and you continue to meaningfully help drive that growth and profit, the compensation will come.
If the company isn't profitable or isn't growing, well, you'd have a problem either way. Growth and profitability cures most ills. ;)

On the topic of this message board, beware of lifestyle inflation and make it a challenge to yourself to see if you can max out one of your retirement savings vehicles on that raise. (IOW, live like you were still making your old salary and sock away most or all of the increase.)

Have a read through this excellent post:
https://forum.mrmoneymustache.com/investor-alley/investment-order/msg1333153/#msg1333153

nickanthony_05

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Re: promotion salary negotiating do or don't do?
« Reply #5 on: July 03, 2017, 07:33:26 AM »
Yeah I didn't mean they lowballed me now. Was just referring to if I asked for 15k then they offered 10k.
I'm going from 45k to 55k right now so I know this is definitely a huge raise and I'm not complaining at all.

Thanks for the info. I actually just came across this site because of my dilemma and started briefly reading some other posts around here. Seems like a pretty amazing site and I'm going to have to figure out how I'm going utilize this new information. I'm still trying to buy my first home so I already had it in my head that I'm going to still live like I'm making my old salary and save the remaining new salary. I think I've got a lot of reading to do around here now.
Definitely glad I ran into you guys.

Thanks

 

Wow, a phone plan for fifteen bucks!