Hiring trend: How to navigate ‘dry promotions’

Have you been promoted to a higher position, but your wallet hasn’t quite caught up? This is called a “dry promotion” — where the title upgrade comes with no extra pay.

Here’s how you can navigate “dry promotions.”

Seeing the positive

The first thing to do is acknowledge that this doesn’t feel great, says money expert Robyn Thompson in an interview with CTV’s Your Morning on Tuesday.

Thompson says it’s important for you to ask yourself questions, like what is the enhanced job title going to do for me? Will there be an increase in development and professional training?  

Thompson adds those who receive dry promotions should understand how to leverage it for their future and the benefits available.

Negotiate

When there’s a chance to sit down with your employer, Thompson advises the employee to negotiate. They add that you can negotiate different things, including additional vacation days, professional development, performance bonuses, or mental health days.

“Take a look at things that may be a place where they can expand their budget to be able to provide some additional compensation for you that’s going to make a difference,” Thompson said, adding that a dry promotion doesn’t mean an employer is telling you you’re not valuable.

“They’re, in fact, saying the opposite of that. They’re just not necessarily giving you what you would expect from a bump in pay.”

A positive ‘no’

Thompson recommends sitting down with your employer and discussing what works for you.

If it’s a new role you can’t spend time in, with other priorities like family, voice that to your employer, Thompson said.

“Thank you so much. I really enjoy working here, and I enjoy all the value that I bring. Thank you for acknowledging me. But it’s not really the best time for my family right now because any extra time from work other than what I’m doing I need to be spending there,” Thompson re-enacted.

Thompson says the conversation can revolve around making it clear that your current position is good enough for you and that it’s okay to say no.

Thompson says you can approach it like, “I love my job so much, and I want to keep doing exactly what I’m doing. Thank you so much for being able to put me in a different place, but I think I’m providing so much value right here.”