Economy & Jobs

How to Get Promoted: 3 Necessities For Moving Up

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We often believe that we deserve more money and responsibility for our contributions in the office. But how do we get promoted when that long-anticipated performance review rolls around? There’s no step-by-step guide to convincing your boss, which can make the negotiation process harrowing for those on the bottom rung. However, even though no one wants to feel stagnant on a career path, it’s important to realize that promotions don’t happen overnight. When the right time finally comes, there are a few techniques you can use from your job-hunting days that will help you climb the ladder.

Employ Your Negotiation Skills surveyed over 30,000 people in the workforce and found that 28 percent of people do not feel comfortable asking for a raise or promotion. Of the 43 percent that have asked for a raise at least once in their career, less than half actually received the exact amount they were looking for. Negotiation is key when approaching your boss, but you may not walk out of the discussion with all of your goals met. Nevertheless, remember that there are many things you can negotiate for beyond salary, such as your job title, bonus structure, schedule, vacation time, and other company benefits. Be sure to do your homework before entering the discussion. Know the salary range for your intended position. You can find this information on Glassdoor or Payscale.

Know Your Value to the Company

When negotiating, be prepared to discuss how you’ve added value to the company. Note ways in which you’ve saved your company money, increased sales, implemented new technology, improved processes or procedures, or personally saved your boss valuable time. Use actual numbers to back up your main points. In addition, make a list of your accomplishments, and highlight how you’ve gone above and beyond your job description to be a valuable member of the team. If possible, grab a few quotes from coworkers and clients to enhance your credibility.

Be Aware of the Timing

Know the right time to ask for a promotion or raise. If you work for a company that has regularly scheduled performance reviews, you may want to wait until then. Be mindful not to bother your boss during the busiest times of year. However, if you’re just wrapping up a company project in which you’ve been a key player, it could be a great time to request a performance review. Be sure to set a date on the calendar so you and your boss can both prepare.

Promotions aren’t always handed over. For many workers, you have to fight for them. If you follow these steps leading up to negotiations, you’ll be well on your way to getting the boost you deserve. If you still don’t get promoted, then it may be time to search elsewhere. After all, another great way to rise through the ranks is to switch employers.

Sophia Bera, CFP® is the Founder of Gen Y Planning and is a financial planner for Millennials. She's passionate about providing comprehensive financial planning to people in their 20s and 30s across the country in a fun and accessible way. She is a contributor for AOL's Daily Finance website and has been quoted on various websites and publications including Forbes, Business Insider, Yahoo, Money Magazine, InvestmentNews, and The Huffington Post. She was named one of the "Top Financial Advisors for Millennials" by the website: Sophia is a sought after speaker and presenter and a founding member of the XY Planning Network. In her free time, she enjoys performing as an actor/singer and traveling the world. Follow her on Twitter @sophiabera or buy her new Kindle ebook on Amazon called: What You Should Have Learned About Money, But Never Did.