The Case for an Internal Promotion

A promotion within your current company offers several advantages:

• Familiarity with the Company: You already understand the culture, people, and processes, making the transition into a new role smoother.

• Less Risk: You have an established track record, reducing the uncertainty of proving yourself in a new environment.

• Stronger Internal Network: The relationships you have built can support your career growth and increase your chances of promotion.

• Easier Adaptation: There is no need to start from scratch learning about a new company’s expectations, policies, and work culture.

However, there are potential downsides:

• Limited Salary Growth: Internal promotions often come with smaller salary increases compared to moving to a new company.

• Office Politics: Competing with colleagues for a promotion can create tension.

• Stagnation Risk: If there are limited advancement opportunities beyond the next step, long-term growth may be restricted.

The Case for Looking Elsewhere

Exploring opportunities outside your current company can be beneficial in many ways:

• Higher Salary Potential: External job offers often come with more competitive compensation packages.

• Broader Experience: A new company can expose you to different industries, skills, and professional networks.

• Stronger Negotiation Power: Entering a new company gives you more leverage on salary, benefits, and job responsibilities.

• Fresh Start: Leaving behind outdated perceptions or workplace politics allows you to redefine your professional identity.

On the other hand, there are some risks:

• Starting Over: Building relationships and proving yourself in a new company takes time.

• Cultural Fit Uncertainty: Even with thorough research, you won’t truly know if a company is right for you until you are there.

• Probationary Period Risks Unlike an internal move, new jobs often come with probation periods that add an element of job insecurity.

Key Questions to Ask Yourself

• Are you happy with your current company’s culture? If yes, an internal move might be better. If not, it could be time to leave.

• What’s more important - salary growth or stability? External moves often bring higher pay but also more uncertainty.

• Is your company investing in your career growth? If leadership supports your development, staying could be beneficial. If not, looking elsewhere might be the right call.

• Would you regret not exploring new opportunities? If you feel stagnant, a new role elsewhere could reignite your motivation.

Final Thoughts

Both options have pros and cons, and the right decision depends on your personal and professional goals. If your current company offers strong growth opportunities, an internal promotion could be ideal. However, if you feel stuck, undervalued, or in need of a salary boost, exploring external roles may be the smarter move.

Whichever path you choose, make sure it aligns with your long-term career aspirations. Change always carries a degree of risk, but the right one can take your career to the next level.