Office Hours: Valuing Etsy’s Stock, Tips for Naming Your Business, and How to Ask for a Promotion or Raise at Work

Promotion Tips

Scott Galloway offers strategic advice for those seeking promotions, emphasizing the importance of building relationships with mentors and bosses. He suggests having informal conversations to understand expectations around bonuses and promotions, and advises against frequently pushing for raises, as it may backfire. Scott believes that being a good citizen and showing gratitude can lead to unexpected rewards.

I think that people like ambitious people. It depends if you can kind of read the tea leaves. Is the company growing quickly? Are you well liked there? Are you generating revenue?

He also notes that in slower-growing companies, raises might be harder to come by, so managing expectations is crucial 1.

   

Policy Awareness

Understanding company policies and timing for promotions is key to making informed requests. Scott highlights the importance of knowing when your company typically announces raises and promotions, as this can vary significantly. He finds it unusual if employees are unaware of these cycles, as most firms have set times for compensation reviews.

It's unusual and not a great indicator or great reflection on your company that you don't know when they announce promotions and raises.

Scott advises that approaching management outside these cycles is often ineffective, as decisions are typically made during specific periods 2.