Today’s article is written by Sherry Karten, an operations manager at a non-profit organization in San Francisco.

You’ve just been offered a management position — a promotion that should be cause for celebration. However, you might be unsure of whether or not you’re prepared to accept the additional responsibility that comes with the new job.

Before agreeing, take a little bit of time to carefully consider if being promoted to management is the right thing for your life. Here are a few things to consider.

The Pros & Cons of Being Promoted to Management

Job Promotion Pros:

1) Newfound Sense of Job Satisfaction

At the end of the day, job satisfaction is what will drive you to keep coming back to work. As the American Psychological Association reports, happy workers are productive workers. The sense of accomplishment you’ll get from managing an office or retail establishment will fill you with professional pride at the end of every day.

In your capacity as a manager, you’ll be helping a group of people work together towards a common goal, earning their admiration and respect in the process.

2) Increased Income

Making more money is arguably the biggest advantage of being promoted to management. After all, since you’ll be working harder, there’s no reason your salary shouldn’t get a sizable bump. For many people, increased income gives way to profound life changes, such as marriage, home ownership, starting a family, and residence relocation.

Increased income can also help you enjoy a higher standard of living. You’ll be able to eat better food, buy a new wardrobe, and take your special someone out for unforgettable nights on the town every weekend. By extension, even though you’ll be working longer hours, people in management positions often get more paid vacation time than regular employees.

3) The Chance to Pursue Advance Degrees Free of Charge

Being given the chance to go back to school and earn a degree in management is one of the key advantages of a managerial promotion. If they want you badly enough, many companies will finance your way through school, ensuring that you get the education you need without taking a cent out of your pocket. As you’ll find, colleges offer a wide range of options to people pursuing management degrees. Also, if this is your first time in college, you’ll get to experience higher education on your employer’s dime.

Not only will earning a degree in management make you a valuable asset to your current employer, but it will also enhance your worth to other companies. If you ever decide to leave your current job, your management degree will open doors at other businesses that are closed to applicants without a college education. Attending classes while continuing to work can be a strain on your time, but your hard work will pay off once you experience the satisfaction of earning a degree.

Job Promotion Cons:

1) Longer Work Hours

It’s no secret that high-level jobs often come with longer work hours. This is one of the few downsides to accepting a management promotion. As a manager, you’ll most likely be expected to arrive a little earlier and go home a little later than your supervisees. Extended work hours can be particularly inconvenient for people with families.

When considering the transition to management, have a long talk with your spouse, significant other, or children and see what they have to say about your decreased presence at home.

If you’re already comfortably well-off and they really need you at home, your loved ones may prefer that you turn down the promotion. Your career is very important, particularly in a troubled economy, but professional success can never take the place of family.

2) Potential Alienation From Colleagues

Being alienated from former coworkers is a common concern for people making the transition to management. They’re afraid the people they once worked with will view them differently because they’re now in a position of authority.

When faced with this problem, it’s important to accept the fact that you can’t control how other people feel about you. While it’s entirely possible that a few jealous colleagues will condemn your success, the people who are truly your friends will be happy for you and celebrate your promotion to manager.

Should You Accept That Promotion?

There’s much consider after being offered a managerial promotion. Since blindly agreeing to accept a new position is liable to cause feelings of regret, ask your boss if you can have some time to think about the impact the job will have on you and your loved ones before taking a new position.