This Is Why You Shouldn't Just Accept A Promotion

This Is Why You Shouldn't Just Accept A Promotion


June 9, 2023 | Eul Basa

This Is Why You Shouldn't Just Accept A Promotion


It can be easy to blindly say "yes" to a promotion on the assumption that it will always be better than your current position, at the very least in terms of pay and responsibilities. But the wiser approach would be to evaluate the promotion just as you would any other job offer because essentially, that's what it is.

Sarah Vermunt, a career coach from Toronto, warns employees to review the terms of promotion carefully as there are times when "moving up" could actually put them at a disadvantage. She says that while promotions are meant to be marks of honor and rewards for good work, they also usually come with potentially different workloads that may make employees less happy with their jobs. "The irony is they got the promotion because they were really good at their old job, which probably means they enjoyed doing it," she adds.

Taking on new responsibilities could mean having to learn new skills to excel at the new job, as well as having to get used to not being a top performer anymore. Then comes the issue of money. One should always ask: "Will the pay increase be worth the extra work, or am I comfortable with where I am now?" In the long run, having a higher salary may not be worth it if you start dreading going to work every day. Additionally, if the pay increase is not significant enough, it may be a good idea to discuss that. As mentioned before, a promotion is like a new job offer, so you are allowed to negotiate.

Happy,Black,Female,Employee,Get,Rewarded,For,Professional,Achievement,Handshake

Vermunt says there are some red flags that employees can watch for to protect themselves. For one, it is important to identify "vanity promotions," which are when employees are asked to say yes or no to the promotion on the spot. If there is no paperwork and the promotion is essentially just in name only (i.e., it doesn't offer an increase in pay or give an employee more influence in the company), then it's technically not real promotion. If the new position being offered is entirely different and takes an employee out of a role that he or she really loved, that could be a red flag as well.

"It’s totally okay to say, ‘I’m so thrilled that you see me in this position and I’m very grateful for the opportunity, but I actually see myself going in this direction and would like to work for a promotion to go that way instead,’" says Vermunt. "Movement could be possible, and a promotion is not a yes or a no, it’s a job offer like any other. You can and you should negotiate."

Source

 

 


READ MORE

elizabethholmes_internal

Elizabeth Holmes Is Still Showing ‘No Remorse’ To Her Victims

Prosecutors say that Elizabeth Holmes is exhibiting no signs of remorse to her victims, despite the considerable harm her company Theranos has done.
July 6, 2023 Eul Basa
Landscapingtips Internal

Money-Saving Landscaping Tips For Your Home

Discover savvy strategies to create a stunning yard without breaking the bank. This article dives into money-saving landscaping tips, focusing on native plants, DIY efforts, and smart planning for an attractive and cost-effective home garden.
September 11, 2023 Allison Robertson
vintage game console

Old Video Game Consoles That Sell For Thousands

Old game consoles used to be stashed away in closets or sold at yard sales for a few bucks. But today? Some of them are collector goldmines.
October 13, 2025 Allison Robertson

I’m the only woman in an office full of men who constantly make “jokes” about my appearance. I thought we were beyond this in 2025. What should I do?

You walk into work, and before you’ve even logged in, someone comments on your outfit. Another chimes in with a “joke” about your body. Everyone laughs, except you. It’s 2025—shouldn’t we be past this? Spoiler: we’re not.
September 11, 2025 Jesse Singer
tomford_internal

This Is How Tom Ford Saved Gucci

Tom Ford stepped in as the creative director in 1994, and within a few years, he had transformed Gucci into one of the most profitable and glamorous fashion houses in the world.
July 6, 2023 Eul Basa

The Most Bizarre Things That Sold High At Auctions

Whether it’s pure nostalgia, obsession, or just plain curiosity, these bizarre items prove that, at the right auction, anything can become a treasure.
March 31, 2025 Binet


Disclaimer

The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.





Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team