More employers offering promotions without raises
A better job title doesn’t always come with a bigger paycheck, according to new research from staffing firm OfficeTeam. Nearly two in five HR managers (39%) said it’s common for their company to offer employees promotions without salary increases. That’s a 17-point jump from a similar 2011 survey.
Also up, compared to 2011: The number of employees willing to accept a title upgrade without a pay raise, 64% in 2018 compared to 55% seven years ago.
HR managers were asked, “How common is it for your company to award promotions without salary increases?” Their responses:
Some additional survey findings:
- More male employees (72%) are open to accepting a promotion without a salary increase than women (55%).
- Workers ages 18 to 34 (72%) are most willing to take a new title that doesn’t include a raise, compared to those ages 35 to 54 (61%) and 55 and older (53%).
- Professionals are promoted after two years and five months in a role, on average.