Pretty bent out of shape right now. I've had a very successful last couple of years, raised millions of dollars for my company and made some real scientific breakthroughs for our product.
I've been at this job for 4.5 years, got a promotion 2 years ago but have been basically doing work above my pay grade for a while now. I'm fairly young (32) so I was OK sticking around to prove myself and I was ready for it all to pay off. I make $100k with a performance bonus (15% last year) which is below market value in my field (San Diego, pharma), and I was really considering that the next promotion to senior management would be an inflection point for my career.
My boss (Senior VP) and said she'd be promoting me in July. Well now it's the end of June and the company just initiated a hiring freeze, likely layoffs soon, basically cost cutting across the board to re-focus on core needs to get the product to market.
Anyways, I'm meeting with my boss tomorrow and I've already been told that a promotion I had planned for one of my employees is no longer going through, so I'm pretty sure I'll be informed that my promotion is also getting cancelled. I understand the rationale. However, I do need to figure out how to respond. I wonder if now is the time to get a bit pushy and try to squeeze some sort of a raise / title bump out of this. Or I can maintain the nice guy role, say I understand, and start the job hunt and use these guys as a reference since I've built a very positive reputation here. I don't want to poison the well but I feel like I sacrificed a couple years to grind to the top and then got the rug pulled from under me.
This is kind of just a rant but any advice is appreciated on handling this. Seems like cutting my losses and moving on is the right answer though. I know it could be worse, but I'm still pretty salty and the job itself is fantastic so it'll be a shame to leave.