I have the opportunity to apply for a new position at work. If I were to get the job, it would mean a 3% (I know huge right – I work for the government) raise. The position essentially formalizes the job that I currently do, which is why I will probably end up applying for it in the end.
There are a few positive things that going for this position may lead to (other then the tens and tens of dollars I would get as a raise).
Higher potential earnings: My workplace classifies positions into specific job bands. I am currently at the maximum of my current job band, as I have been in the same position since I graduated University 6 years ago. The new position is one job band up, which would allow for salary growth to occur in future years.
Management Experience: I don’t have any management experience – this position is almost ideal for me in this aspect as I would not really have people reporting to me, but I would have a mentoring/training role. I am leery in dealing with personnel issues, such as performance reports and dealing with people’s personal problems, but I enjoy teaching people new things.
More interesting work: As much as I enjoy my current position (hence the reason I have stayed in it for an extended period of time) the added complexity of the work in the new position might make my workday more interesting.
There are a couple of potential negative outcomes if I were to get this job:
Greater Scrutiny of my work: The more complex work I would be doing would come with increased scrutiny by management. Although not a bad thing, it could add more stress to my workday that I currently don’t have to deal with. Additionally, right now I am one of 50 people doing a similar job – the new position would make me one of 6, which I guess would put more of a “spotlight” on me than I currently have. Now, I can essentially fade into the background, which wouldn’t be possible in the new position.
I could continue doing what I am doing and do it well: I have gotten excellent performance reviews in the past few years and am good at my current position. There is a potential of failure, as I would be leaving my comfort zone with some of the duties I would have to carry out. If I were to stay in my current position I wouldn’t have to worry about this issue.
For me, the potential positives outweigh the negatives in this situation. My goal is to be highly employable – hence the reason for the accounting designation and other training I have gotten on the job. The added responsibility will hopefully help me quickly find a comparable position if I were to ever lose my current job (something that could potentially devastate my plans for early retirement). The added benefit of higher potential earnings in future years could also help in paying off my debt and creating a pool of savings.
What do you think? I realize I have been somewhat vague on specifics, but does this seem like a good idea? How do you decide whether to go for a promotion or stay where you’re at?