Tell the person extending the job offer that you appreciate the opportunity to move forward in the company and explore a greater position of authority. Before accepting the promotion, ask to discuss the specifics of the job, including compensation and job duties and functions. Get the details in writing and ask for time to review the document.
Conduct some background research into the role you’re being offered. Because of your existing job with the company, you may have an idea of what the position pays. Dig a little deeper and find the going rate for that role in your industry. You can find statistics through the U.S. Labor Department that will help to prepare you for negotiations.
Meet with the individual offering the promotion and ask questions about the new position. This will help you clarify what is expected of you. From there, begin negotiations for any missing elements you believe you are entitled to. For example: “Based on the overview of job functions, I believe I would be better able to perform in this role if I had a part-time assistant,” or, “Because of the extensive travel involved with this job, I’d like to request an expense account and use of a company car.”
Negotiate any discrepancies in the salary package being offered. You can use any number of arguments to your advantage, including your existing knowledge of the company, your education or experience, or inside information. For example: “It’s my understanding that the last person in this role earned a significantly higher salary. Can you tell me why there is such a discrepancy in what you’re offering me?” Or, “The starting salary for this position looks like it’s about 10 percent below national industry standards. Would you be open to an increase?”
Decide in advance of what you will and won’t accept. Take into consideration whether your existing job will still be available if you turn down the promotion, or if there will be awkward tension if you refuse the role.
Let the employer know of your final decision as soon as possible.