What Is a 'Dry Promotion' — and Has It Happened to You? Employees in This Specific Group May Be the Most Likely Victims. The phenomenon is becoming more prevalent as companies grapple with tighter budgets.
By Amanda Breen •
Key Takeaways
- Workers might not have the upper hand they did just a few years ago.
- "Dry promotions" appear to be on the rise — and there are consequences for employees and employers alike.
Most employees who receive a promotion likely expect a salary bump to match. But in a professional era where workers might not have the upper hand they did just a few years ago, gaining a new title and responsibilities doesn't always come with a larger paycheck.
Meet the "dry promotion." Research suggests the phenomenon is becoming more prevalent as companies navigate tighter budgets. A recent poll from compensation consultants Pearl Meyer revealed that 13% of employers are rewarding employees with new job titles instead of money, up from 8% in 2018, The Wall Street Journal reported.
Related: This Workplace Expert's 'Brainwashing'-Esque Technique Will Help You Get the Raise You Deserve
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