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Is there any policy, like you have to work for X years to be eligible for promotion etc.
Thanks in advance.
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Take the title and responsibilities. Then jump ship to somewhere that’ll pay you more.
Just be straight. More responsibility means more stress, which is why it usually means more money. Be careful not to accept a poison chalice.
Here's the honest and also unfair truth: not much changes. They're giving you a title to put on your resume. That's it. Use it for what you may. Your best--absolutely best possible outcome of a 1 level up bump--is about 10%. Focus on the title to change your destiny. The bump will only underwhelm you.
It’s not a promotion without the salary bump. It’s just your current job with more Bullshit
Take the title for 3 months, then ask for more money citing your increased responsibility and successes - and if they don’t, look elsewhere and jump at the higher salary band
Agree with CD1 if you want to move.
Otherwise…It happened to me a couple of times and I’ve always made the mistake of accepting the promotion without a raise, thinking that I would negotiate the money later. Or because my boss was better than me during the conversation.
Anyway, it has NEVER been a good solution.
The money conversation should happen at the same time (or before), and you should have a raise at the same time. Later is not good cause context and expectations from both side will change, etc.
If you accept without a raise, that means that you’re entering a trial time, and the conversation about the money will be based on your new work.
If you’re stuck, try at least to schedule a conversation a few weeks later.
Never forget it costs more to hire someone else to do your job.
It’s all about leverage. Do they love you? How’s the agency doing? Do you own the client relationship? Assessing that will tell you how hard you can push.
Also, when you say restructuring, is that a code for layoffs? If so, you prob need to wait on asking for money- unless they love you. But at review time, you could say that you’re well under your band (or low in it) and push then.
Ideally, they know you deserve more and will admit it to you with the understanding that if they can’t give it you now, they will at some specific time.
That’s not a promotion. I’d be direct about it.
If I was planning to move soonish I’d take it, if not, fight for the money