More Offices Are Promoting Employees Without Raises!
It’s no doubt that having a fancy title at work can certainly sound impressive to people, but the truth is, just because someone’s title may be bigger than yours doesn’t necessarily mean they make more money than you.
A new poll by OfficeTeam finds that 39% of hiring managers say it’s pretty common for companies to offer employees a promotion but not give them a salary bump, with 6% saying it’s very common and 33% saying it’s somewhat common.
And while you’d think employees would be frustrated at getting a promotion in name only, you’d be wrong. In fact, the survey finds that 64% of workers say they’d be willing to accept a promotion that didn’t come with a raise, which is up from 55% in 2011.
Overall, men are more willing than women to accept a title bump without more money (72% vs. 55%), while those ages 18 to 34 are also the most likely to accept the new title (72%), as compared to those 35 to 54 (61%) and those 55 years and older (53%).