HELP: Should I tell my boss that I received another job?
Hey everyone,
I'm a first year analyst that has been with my firm for less than 1 year. Recently, I received an external job offer that is somewhat similar to my current role but is higher paying and in a better location. However, I genuinely like my current company and ideally would love to stay at my current company for as long as possible. The problem, however, is that my current job is not in the city that I want to be in but, if the company was able to provide some degree to location / geographic flexibility, I honestly would prefer sticking with my current company.
Given this situation, do you guys think it would be prudent to inform my boss that I've received another job offer externally but ideally want to remain at my current company if they allowed me to work in a different city? Do banks generally allow for location flexibility especially if you have a competing offer (as I know some banks like to retain talent especially after training them up)? Would informing my boss about this job offer cause me to get fired / terminated?
Thanks so much in advance!
Your post suggests that, one way or another, you're going to relocate, correct? There's no scenario in which you stay at your current firm and in your current city?
If so, then there's the question isn't real "should" I tell my boss something, but more "What" do I tell my boss. Now, time is a factor, as your job offer will expire (if not then great, but I'm guessing that that's not the case).
So I'd suggest (and there's no "right" answer, so I invite other views) firstly having a heart-to-heart with your boss and explain that you love the firm but want to relocate. I wouldn't (yet) say that you have a job offer, but I'd comment something to the effect of "I've been approached by recruiters, so know I can make this happen externally and in the short term, but would much prefer to stay at this firm but relocate". See what his or her reaction is.
If he or she is receptive and actually actions something within 24 - 48 hours (or whatever you think is an appropriate timeline based on your current offer expiry), I'd let it play out (but only to the extent that it doesn't violate the expiry of your current offer). If they don't, then drop the offer card to him or her.
To be clear though, I'd set your hopes low. Most banks, especially larger ones, will take time to find headcount and arrange to a relocation - I think it's unlikely that you'll have something in writing before the expiry of your offer.
The external offer was an exploding offer (only had 48 hrs to decide) so I had accepted the offer already. Given this, I would have to renege to stay at my current company. Does that change anything?
Also, given that the relocation process would likely take some time to arrange (assuming boss is receptive), should I go to the new company first and then try to come back to my current company once they confirm they are able to provide relocation flexibility?
Ah I see. Well I think you were right to accept the offer, and candidly yes you can renege. It's not good practice but at least as far as I'm aware there's not a lot the offeror can do and any bad blood is usually soon forgotten.
In terms of what to do, I'd imagine your new role has a start date? And your current has a notice period? So your actions need to really follow that. Plus, selfishly, if you do have a gap, then you probably want some downtime.
So given all that, you need to have that heart-to-heart and tell him or her you have an offer. My only temptation (if you have 2 days to play with) is to tell them that you have a 48h exploding offer and see if that by itself creates some urgency. If nothing else it might leave a bit of goodwill that you at least tried to stay with your current firm before jumping ship.
But honestly, unless you have a 6 month window to play with between jobs, I think it's unlikely you'll be able to get something on paper at your current shop in time.
Take the job that is offering more money and the city you want lol.
Why would your current bank let a first year work in another city?
You sound delusional dude.
+1. fresh college kid thinks he's a partner-deal maker and the bank will open a new office for him lol.
It's very hard to generalize company culture across different locations. What if the office in the location you want to go to has a bad culture? You won't know this unless you switch. Furthermore, how do you know your boss will keep his word and allow you to work in a different city? Your boss may use some jedi mind-tricks make it seem like switching offices is possible, but believe me in most firms there is a process, generally there has to be head-count and your boss must be ok with letting you move. I highly doubt he is ok with letting you move to retain you after only 1 year of experience, especially considering you are asking for a raise.
Switching offices is like switching firms. Each office has its own culture and so does every team within a company. You're young and just started working and found a role that will pay you a higher salary and is based in a location you want to work in. Take the offer and don't bother your boss. Out of curiosity how much of a raise are you getting? If you are moving to a bigger city, that raise may not be meaningful. Ex: Getting a 10k raise but moving from Cleveland to NYC will result in a negative raise.
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