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Using a new offer to get a raise/promotion

So long story short, I have received a job offer from a company that could be considered a competitor, though not a direct competitor. I’m in the process of negotiating the details and compensation right now, but I’d be willing to stay at my current company in exchange for a solid raise and a promotion. The new offer will be a material raise in salary, but the other benefits aren’t as strong.

I’m fairly comfortable in my current role with slightly better than ok pay and great benefits, but am in lower on the totem pole ranking/title wise, and consequently underpaid, vs my peers because I started lower in the pay band even though I provide a similar level of value. Which obviously frusturates me and my bosses basically tell me to go pound sand when I bring it up. Working my favor currently is that we’re short staffed, having trouble with retention, and I’m one of the most senior guys on my team, so I’d imagine they would want to keep me.

Anybody have any experience with this? Things to do, to not do?

Just leave. Once they know you’ve been looking you’re the first to get chopped when time comes. If they’re telling you to go pound sand it doesn’t seem like they’re even interested in equalizing your pay which is indication enough that it’s time to go. Most employers at least delay and tell you they’ll think about it.

"Verdict: TRUE" - Fact Check

I’ve seen multiple people at my firm over the years bank on the “I add value, and we’re already short staffed” expecting some type of counter offer upon giving their notice of another offer or intention to leave and get nothing but a pat on the back and a “so where ya headed?”.  YMMV of course but from the sounds of it, I have to agree with mk17. 

well OP, since you have the offer, you have the power, and it certainly doesn’t hurt to try getting a better deal

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

Congratulations on your offer. Just be straightforward and mix in some ass kissing language: “I love working here, bla bla, but it makes sense for me to take this offer unless I receive X here.” Always be nice to people’s face, is what I have learned.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

If they don’t value your work take your talent somewhere else where it is valued more. From the sound of it the firm already has turnover problems which signal firm wide issues, I’d leave as soon as possible even if they raised your salary.

I would leave the current role and take the new job offer. The fact that you have already approached your current firm and discussed compensation coupled with the fact that the firm is short staffed and is having difficulty keeping people tells a bigger story.

ohai wrote:

Congratulations on your offer. Just be straightforward and mix in some ass kissing language: “I love working here, bla bla, but it makes sense for me to take this offer unless I receive X here.” Always be nice to people’s face, is what I have learned.

+1

Sweep the Leg: "I’m tired."
KMeriwetherD: "Well, you were basically Legolas in the Battle of Water Cooler."

Leave. You’re blackballed if you stay, they know you’re looking to get out.

I’ve stayed after getting an offer elsewhere and using it to get more cash. Heavily regretted that decision.

“I can no longer obey. I have tasted command, and I cannot give it up.”

ltj wrote:
I’ve seen multiple people at my firm over the years bank on the “I add value, and we’re already short staffed” expecting some type of counter offer…

I don’t doubt that many/most people claim this reason when they quit. The difference with me is it’s actually true. Not only am I the #1 person in my group by client engagement metrics (according to Salesforce) but I’m the only person with even a rudimentary understanding of an entire section of our client deliverables. They can be my guest if they want to try to figure it out without me. :)

My company is like what I assume most are like, they will pay people the bare minimum to keep them happy and present. Earlier this year, I recieved a promotion shortly after receiving a demotion in title. I called my bosses bosses boss into a meeting room and basically told him that their decision was BS, and got my promotion a couple months later. Similar thing happened with salary reviews. They tried to give me an inflation-esque raise and I said that wasn’t sufficient. A week later they came back with something more in the ballpark. Sadly for me, it still was woefully short of what it should have been for my job level.

^ Sounds like you need to get out of there. Do you want to have to find a new offer every time you want to be paid what you’re worth?

“I can no longer obey. I have tasted command, and I cannot give it up.”

I’ve never done this, but I always wonder what it’s like to collect your year-end bonus, then bail the next day with a even better job already lined up.

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

happens all the time at my joint but they can do anything about it

must feel great tho, make sure bonus clears tho lol

"You want a quote? Haven’t I written enough already???"

RIP

igor555 wrote:

happens all the time at my joint but they can do anything about it

must feel great tho, make sure bonus clears tho lol

I knew 1 kid who took the added step of transferring the funds immediately into another account so “it couldn’t be pulled back” for whatever reason

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

itera wrote:

I’ve never done this, but I always wonder what it’s like to collect your year-end bonus, then bail the next day with a even better job already lined up.

I waited a couple days but did essentially this. Felt great. No shame either, I earned that bonus fair and sqaure. It’s for previous years performance so there is nothing unethical about it. Fair and square.

“I can no longer obey. I have tasted command, and I cannot give it up.”

geo wrote:
^ Sounds like you need to get out of there. Do you want to have to find a new offer every time you want to be paid what you’re worth?

I had a conversation with a more senior guy who is a boomarang employee (aka he left and came back into a more senior role) and isn’t a manager and asked him that same thing, is the only way to get paid what I’m worth to get another job offer? I felt like he wanted to say yes, but gave the company line of “it’ll all work out.” Which is complete BS. I have also heard from another internal source that this senior employee had 2 job offers when he returned, 1 from my company and 1 from our arch enemy and he used the enemy offer to boost his offer at our company. 

itera wrote:
I’ve never done this, but I always wonder what it’s like to collect your year-end bonus, then bail the next day with a even better job already lined up.

If my potential new employer doesn’t want to compensate me for my leave behinds (mostly my 2015 bonus and a bit of unvested 401k) I’m tempted to say, “come for me on xxx 1st, 2016”. I’m down to leave, and you don’t have to pay out my 2015 bonus. But they haven’t responded to my counter offer yet, so not sure where we will land.

You’re gonna get stiffed on your bonus this year either way. Best case is your potential new employer comps you for some of it.  Let us know though.

"Verdict: TRUE" - Fact Check

I actually turned in my notice the day my bonus cleared! I checked my account the morning during my commute, walked into my boss’ office and handed in my resignation. It was the best feeling ever.

I would never try to renegiote a higher salary with a current employer because although you may get more cash you will likely be overlooked for future promotions. I’m sure your a very hard worker and very good at what you do but I’m quite positive they could get by without you with somone with a lower pay package.

Congrats on the new job!

mk17 wrote:
You’re gonna get stiffed on your bonus this year either way. Best case is your potential new employer comps you for some of it.  Let us know though.

So all done with the back and forth. They’re not going to comp my bonus for this year, but truthfully given the market and we aren’t on track to meet targets anyway, I’m not certain we’re going to get our full bonus pool anyway.

I’m going to take the new offer. The raise is enough to make me go, and I negotiated an extra week of PTO based on what I have now. There is no good future track where I am now and an extra few grand isn’t going to change that.

Congrats buddy, knock em dead at the next gig.

"Verdict: TRUE" - Fact Check

Congrats!

Sweep the Leg: "I’m tired."
KMeriwetherD: "Well, you were basically Legolas in the Battle of Water Cooler."

how can u negotiate extra PTO unless its a small company, dont all large joints have strict rules?

"You want a quote? Haven’t I written enough already???"

RIP

Thanks guys!

igor555 wrote:
how can u negotiate extra PTO unless its a small company, dont all large joints have strict rules?

This company (and I believe others) have a schedule with # of weeks per year based on years with the company, but there is a asterick that says they may grant additional time based on prior experience. So I told them in my counter offer, you offer X weeks of PTO. I currently get X + 2 weeks. So they offered X +1 which I think is reasonable, plus there you accrue 1 more day with each year of experience, where as my current employer, everybody gets the same amount from day 1. So I’ll get back to where I am now that much faster.

Think about it, it’s an easy way for them to sweeten the compensation. If you’re salaried they’re still paying you the same regardless. Just gotta get work done.

^ well done

"You want a quote? Haven’t I written enough already???"

RIP

So I put in my 2 weeks notice this afternoon. After finding out that I was going to a competitor, I was promptly told that today would be my last day and I would be paid out the two weeks. So now I have 2 weeks paid vacation, on top of the 4 weeks of vacation I’ve already had this year. 

I anticipated this, so I had cleared out my desk this weekend with nobody around. Easy peasy. 

respect, one step closer to BSD. my company does the same 1 day and ur out thing when leaving

"You want a quote? Haven’t I written enough already???"

RIP

I’ve never been cut lose after notice, unfortunately. But I’ve cut the two guys on my team who have quit after a day or so. Wrap up some things, get the work handed over and punted out.

Enjoy the two weeks off. Recharge for the next gig.

“I can no longer obey. I have tasted command, and I cannot give it up.”

geo wrote:
Enjoy the two weeks off. Recharge for the next gig.

Thanks! I’ve got a long weekend in Arizona with my dad planned for this weekend, since he’s coming down from Canadaland. It was originally a Friday PM to Monday AM trip given vacation constraints, but is now Friday AM to Tuesday PM trip since I don’t actually have a job to go to, despite being officially employed through the end of next week. I could almost get used to this… many of my coworkers were pretty surprised. The not clueless ones had me in the unofficial pool of “next to quit”. 

krazykanuck wrote:

I anticipated this, so I had cleared out my desk this weekend with nobody around. Easy peasy. 

#japanesey

That’s great - enjoy the two weeks off buddy

"Verdict: TRUE" - Fact Check

well done, sir.

god bless the free market.