- May 8, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Deciding on a Managerial Promotion
Hi AusFinance,
### Considering a Managerial Promotion with Added Responsibilities
Without disclosing specifics, my manager has approached me about the possibility of taking on a managerial role within the company due to a recent departure. The proposed salary increase is significant, accompanied by a company car valued at around $10,000 annually. However, this promotion would entail a 20% increase in responsibilities.
### Market Research and Negotiating Salary
After conducting market research on the salary range for this new position, I found that the average base salary is approximately $130,000, which is considerably higher than the offered salary of $88,000 plus the company car. During the initial discussion with my manager, I expressed my interest in the role but also raised my concerns about the salary discrepancy. In response, my manager reiterated the fixed salary offer and suggested that I apply for the position and go through the interview process like other candidates.
### Seeking Advice on Negotiating Leverage
I am now left wondering if I may have overstepped by requesting a higher salary. While I believe in advocating for oneself and negotiating, I fear that my request may have soured my manager’s perception of me. It is important to note that I am the sole candidate approached for this position, as no one else meets the qualifications. This would also mark my first experience in a managerial role, with only three years of experience in the field at the age of 27.
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### Seeking Perspective and Avoiding Entitlement
Apologies for the lengthy message, but I am conflicted about how to proceed. I do not want to come across as entitled or risk jeopardizing a potentially great promotion by pushing too hard for a higher salary. I am open to hearing different perspectives and advice on how to approach this situation tactfully. Thank you for any insights you can offer.
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What exactly did you do for “market research” to value this specific role more than 40k over the offer?
Roles like “project manager” or “sales manager” or even “team leader” can vary greatly in complexity and requirements. Average salaries for such roles posted online are basically worthless.
You’re really have to dig a bit deeper than just looking at a bdm salary by title to determine what salary tbh
What vertical. Deal size. GP. Etc
Honestly? You aren’t worth $130k. Salary isn’t just determined by job title. It’s also dependent on the experience, skills & knowledge that you bring to the role.
In your case, it’s only 3 years in the industry, and no managerial experience. You have no leverage to demand $130k (yet). It’s unrealistic to expect that, and I’ve been turned off candidates whose expectations were massively out of touch based on their skills/experience.
By all means, ask for more than $88k (that is defs on the low side). Perhaps around the $100k mark for now.
In 12 months, when you have proven yourself in the role, then you can negotiate a pay rise. But you will need to be able to prove that you are worth that much.
In my industry, a business development manager is a sales representative, not a manager (of people).
Anyway, in your shoes, I’d take the job and in 12 months you can start looking around for a competitor and see if you can get closer to 130k.
Definitely staying in your current role won’t help getting to 130k
I think the people here are a bit too pessimistic. It is good to shoot your shots, and maybe you indeed are really really good at what you do – to be approached like that.
I would say congrats! And it is what it is, if the company can’t do 130. Go for the normal, if you feel you can still ask, try to get to 100.
You’re effectively on ~95k when you consider benefits. By all means get as much as you can, but get the title and experience for 1–2 years, then move when you’re worth more.
I agree that people are being pessimistic. Take the job at the salary offered, gain a year or 2 worth of experience and move somewhere that will pay you $130k.
You said no one else is qualified for the role, but neither are you. You have no leverage. He did you a solid by approaching you about the role, so he obviously thinks you have potential. I’d be annoyed too by you asking 40k more, effectively asking him to double your current salary for you to take the opportunity.
A 20% payrise plus car is much better than you’re on now, and the real value will come from the experience you’ll gain, which will get you to those 130k roles in your next move.
88k + Car, say the car is worth roughly 15k, that takes you to 103k, you have no expiereince in the roll, did you factor that in?
The value of the car will really sink in when you get rid of yours – which you should wait at least 6months before doing.
People seem to get caught up in the cash side of things and expect the car as 100% cream.
He was already offering you a significant pay bump with good benefits, and you asked for another 40%? Yes, that comes off as entitled.
Take it as it is, yes boss, of course boss, thank you boss for exciting opportunity, looking forward to it boss.
Get the experience, then pivot to another company in 18-36 months and get the big salary bump there.