This Is Why You Shouldn't Just Accept A Promotion
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.
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
Getting the purchase price back is useful, but it does not necessarily resolve everything. If contaminated grocery-store food caused an illness, you may have additional legal rights under state product liability, negligence, or warranty law. What you may recover depends heavily on your evidence, the seriousness of your illness, and the law in your state.
Your siblings think you are hiding money because probate is taking months. Learn how transparent an executor should be, what records beneficiaries may receive, why estates take time, and how to prevent family suspicions from becoming legal disputes.
A moving company charged your family far more than its original quote. Learn how to review the estimate, dispute surprise fees, gather evidence, file complaints, and challenge an inflated moving bill.
If you allowed substitutions, major grocery-delivery services generally say your final bill can reflect the actual price of the replacement you receive. A higher-priced substitute can therefore raise the total, provided the substitution followed the service’s rules and your selected preferences.
Yes, supermarkets can often give loyalty members different discounts and tailor offers using shopping data. But secret individualized pricing based on personal information is different. Federal regulators say undisclosed personalized pricing may violate consumer-protection law.
Parents want to help their kids, but generous financial promises can threaten retirement and family finances. Here are the money commitments parents should always calculate carefully before saying yes.
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
