How to evaluate a promotion raise
Compare the new base salary and bonus with what you currently receive, then consider how the role itself changes. More responsibility can be valuable for growth, but it can also change your working time and stress.
Why percentage alone is not enough
A 10% raise has a different dollar value at different salary levels. More importantly, the percentage does not tell you whether working hours, responsibilities or expectations also increase.
Questions to ask
- Is the new bonus guaranteed or performance-based?
- Does the promotion change expected weekly hours?
- What is the compensation range at the new level?
- How often are compensation and promotions reviewed?