HELP: Can I leverage an external offer to get a better offer internally?
First year analyst at a BB (been here around 7 months or so) and recently received a higher paying and overall more attractive offer externally. However, I really like the culture of the BB that I work at as well as the team dynamic here, and I could genuinely see myself as a lifer here.
The issue is (and ultimately the reason why I started recruiting in the first place) I'm not that satisfied with the compensation, position that I'm working in right now, and location. However, if I was able to move to a better position within the company in a better city, I would probably take that over the external offer.
Given that I do have an external offer, should I try to leverage it and see if my manager would be receptive to internal mobility or should I just assume that internal mobility basically isn't going to happen and should just move on to a different company?
Thanks so much!
This will really depend on your function and the state of your team/division. There's no way anyone here will have this information and so no way to answer this question better than you can. Talk to your manager (don't say you've got an external offer) and ask if there is a possibility for your salary to go to X. If the answer is no, you need to have made up your mind on your next move - stay or leave. I know of cases when the bank says no and then when the employee gives notice finds the money to give them their desired salary.
Would also consider the dynamic between you and your MDs after you do this - they probably won't appreciate it and may be the first to be cut if the team needs to downsize/be given a worse experience in the time you stay with the team. Advice I was given by an MD is to not take any counteroffer when looking to leave and I would say this applies here
Thanks for your reply! So would you say the best practice would be to simply head out to the new company?
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