Is it bad to ask for a pay raise with a competitor's offer?

[allenschwartzmd]

Basically a recruiter reached out, hiring for a competitor at a more senior level (one level up from my current one). I have been asking for a title jump given the significant contributions i've made to the small team and firm, but to no avail (they just brushed it away).

The competitor gave me an offer with circa 40% more money, and the title jump. My current employer countered with a little less money, but its still a very decent bump plus the current company is just objectively better, so i took that counter.

So i'm wondering from your pov, is it ok to do that? Would it harm the relationship i have with my boss/managers (we have a really great relationship)? Would they be careful with me going forward? E.g. not allowing me to step away from my desk for a long period of time in the fear that I'd be taking interviews elsewhere etc.

As a gen Z, personally i think this is acceptable because a job is a job, and the job market is brutal, just as all these companies firing good people for 'cost cutting' reasons and whatnot. But keen to hear other gen's view.

 

[rockerfox]

@allenschwartzmd So I was a recruiter for many years and then made a jump to a different industry so I've seen both sides.

Your current company is only coming to the table because you received an offer. They weren't willing to do this before you had it. In addition there are numerous stats that show that people that accept counter offers regret/leave within 12 months of accepting. Also consider that your employer may also look to backfill you ahead of time.

Do what is right for you, if you have a good relationship with your managers/colleagues they will understand.

 

[allenschwartzmd]

@rockerfox Yeh that makes sense, but no i dont think they can backfill me given the responsibilities i am taking + experience + small team budget, But that could definitely happen in a slightly bigger place!

 

[rockerfox]

@allenschwartzmd They will in time, never think you're irreplaceable as this leads to complacency and can end up biting you in the ass. I'm sure you're good at what you do (as they've counter offered you so they see your value) but very few roads end well from counter offers.

Companies will pay you the absolute least they can to make sure you stay and that they get the most bang for their buck as we all do with our hard earned money.

Whatever you decide will be the right decision for you, just remember that if push came to shove, they will get rid of you to survive.

EDIT: just another thought here. It's pretty bad form to get to final stage and then turn down to stay at the same company, not sure of your industry and if it's quite small but this can come back to bite you in the future. It's OK to have multiple offers and choose the one that's right, but if the offering company sees themselves as just a pawn to get you a pay rise it could damage future prospects. All depends on the size of the industry, for example, if I did that in mine, I would severely limit for future moves.

 

[allenschwartzmd]

@rockerfox Yeh i absolutely see your points re replaceability and the small industry bit...guess i'll just have to stay alert and be careful!

 

[rockerfox]

@allenschwartzmd Exactly, you will know what's right for you and your situation. At the end of the day it's just a job. There's always others!

 

[eugenelester]

@allenschwartzmd This is delusional. You are replaceable.

 

[redwolf6]

@allenschwartzmd You also have to remember the reason why you were considering leaving. If it was just pay-related, then you'll be fine. But if it were for other reasons like career progression or learning, nothing would have changed with you taking the counteroffer, and you might regret not changing jobs down the track.

There are also other factors that you need to consider because new employer's workplace is an unknown in terms of work culture and environment. If you're happy in your current workplace and have good people around you, I'd argue that's worth foregoing a better $$ offer (obviously depends how big the gap is)

 

[allenschwartzmd]

@redwolf6 I agree, it's probably 95% pay related so it validates your point and my reason to stay

 

[rainaisha]

@allenschwartzmd That's what everyone thinks. Then they leave and miraculously the business keeps going.

 

[lindseym1013]

@allenschwartzmd No, it’s common to do that

Yes it can impact the relationship, it shouldn’t but some people take it personally.

 

[allenschwartzmd]

@lindseym1013 Yeh, i guess i put it in a really polite and respectful way so it turned out well. But I def heard stories where it backfired

 

[loves2readya]

@allenschwartzmd Think of it this way, your treatment at work has made it feel like it’s a bad thing which is basically brain washing. A lot of workers feel this way unnecessarily. Frame it this way instead:

You're giving THEM an opportunity to retain the resource (you) they've spent time and money hopefully developing so you'll end up making more profits for them. If they then choose to let you go when someone else is willing to pay more for your labour, they've indicated they’re not willing to now pay you market labour rates and would prefer to keep you on by not adjusting the only thing holding most in their current jobs (renumeration).

For the most part, anybody who is an employer will feel offended (thus making you feel bad) by above thinking. It’s in your best interest however to think for yourself and about your financial future. Remember, think of yourself like a business just like they do, wouldn’t you rather get the highest sale price for your labour from buyers (businesses)?

 

[allenschwartzmd]

@loves2readya I like that thinking, if only every worker treats themselves as a business and not accept underpaid jobs lol

 

[eartheart]

@allenschwartzmd Most of the time, the only way you get paid what you think you are worth is if you have leverage…

 

[fidelsandoval]

@allenschwartzmd Do not, under any circumstances, say where the offer has come from.

Keep that private.

Disclosing the identity of the organisation making the higher offer, risks potential interference from your current employer.

Also, if they need "time" to match your higher offer, give them a reasonable but firm deadline.

If they don't revert with a written offer (email will suffice) by the deadline, walk.

 

[allenschwartzmd]

@fidelsandoval I concur with what you said - which was exactly what i did and i feel like if i'd told them, they wouldn't have countered with the amount they did

 

[baileyf14]

@allenschwartzmd I thought that was the only way to do it tbh.

 

[jr47]

@allenschwartzmd I honestly would just take the new job. They have already refused your pay rise. You still need to fight for your next pay rise.

They are forced to give you a raise at the end to essentially put out a fire. They won’t be happy about it. I would expect more difficulty to progress your career in the same company.

 

[riverwood]

@allenschwartzmd Also, they know you are looking so they know you not in it for the long haul, never accept the counter from your current company

Why wouldn't you take the pay jump and better title when your current employer keeps brushing it off?