It’s becoming common for employers to offer “dry promotions,” with added responsibilities for workers but no increase in pay, the Wall Street Journal reports.
“Giving away titles is free; giving away money is not,” Tom McMullen, a senior client partner at global organizational consulting firm Korn Ferry, told the media outlet.
In a recent survey by compensation consultants Pearl Meyer, 13% of employers polled said that they are relying on new job titles to reward employees when money is tight, according to the Wall Street Journal, which noted that the trend is up from 8% in 2018.
Dry promotions put employees in a tricky position, however, potentially subjecting them to burnout and resentment and stalling their “climb up the pay scale,” WSJ reporter Ray A. Smith noted. Employees may pursue raises in the future or use their new titles to land better-paying jobs elsewhere, he added, citing negotiation experts.
“Saying yes to a dry promotion makes sense when it’s a role that will propel your career faster than your current track, even if going without a raise is untenable longer term, career and pay consultants say,” Smith wrote.
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