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If you're unfamiliar, a dry promotion is when an employee gets a new job title or additional responsibilities without an increase in salary.

Employers try to sell the positives. Greater professional development. A loftier title to put on your resume. Increased opportunities to demonstrate leadership skills. More chances to interact with other leaders, with customers, with suppliers—in short: "Look how well we think of you! And look at all the cool stuff you'll get to do!"

Maybe that's why the dry promotion trend is on the rise. According to a Pearl Meyer survey, 30 percent of US employers offered job titles as a reward last year. Big businesses particularly seem to like dry promotions: 40 percent of companies with annual revenue between $300 million and $1 billion played the dry promotion game.

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