I have a question about salary negotiation during a promotion!

I'm approaching a promotion but it's coming in two parts: my annual raise is in the next few weeks and then my promotion is coming a few weeks after. I've already been told that the promotion pay increase is 7%...

Should I focus on negotiating the annual raise, the promotion, or both?

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The best thing to do is get a competing offer.

I used to think like that as well, but the reality (at least for me) is that by the time you put energy and time towards getting that competing offer, you’re already half way gone. Furthermore, when you do land a competing offer, you need to question things like “why am I more valuable to my current company? Why did I have to go out there in the first place? And were my motivations only financial? (Because if they weren’t, staying for more money won’t fix anything else and research shows you’d still be out of the door in 6-12 months anyways).

I believe the best to do is to work on a case to justify that extra increase together with the promotion. It comes with a 7% increase? Ok. But should that increase be a 10%? Instead? More? How do you benchmark the new (higher) position? And how does it help you deliver even more value to the company?

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How much of a difference is there in salary for your promotion vs. the salary increase

I don't know what the annual increase will be. Last year it was 3.5% but I'm 🙏 it'll be more with inflation and Targets performance and such

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