Juggling offers for higher pay
I am currently an analyst and hoping to get promoted in the summer. I genuinely like the company I work for and what the leadership stands for as well as it providing good learning experience for my growth. However, I do not like the pay and have begun applying/interviewing around. But all the companies/positions I have interviewed for are either not as interesting or have gotten bad reviews here or glassdoor.
I am thinking of taking these interviews in hopes of an offer and taking that offer to my current employer and asking them to match to get the best of both worlds. I am wondering for any feedback/experience on how this goes in finance roles and if it is frowned upon? Will this leave a sour taste in my companies mouth knowing I am half way out the door and hinder my growth at the company?
Thanks
It will depend on the culture at your company, relationship with your manager, etc. I generally don’t like the approach for a few reasons (but take this with a grain of salt, you know your firm better):
1) you need to be prepared to walk away: if you tell them you have a higher offer and want to stay, what will you do if they say no?
2) if you have to fight for raises, this most likely won’t change much: any place that pays under market and the only way to get a comp increase is to bring competing offers, tend to undervalue you throughout your career. What will you do next year if they keep your comp unchanged? Will you interview again? Is that the only way to be recognized?
3) relationship with your manager: I find that if you have a trusting relationship, having a conversation about the compensation, how it relates to the market, and more importantly why you believe you add more value is a route that maintains a better relationship. Even better is if you can have them lay out the path for you (if you get promoted then what? What is your development path? Who is going to help you get there?). It shows that you want to be there, want to add more value and it also gives you some direction on how they are going to handle this going forward.
Look, almost no firms want to overpay (and most want to get a good deal), but having to bring competing offers is a tricky path. I have generally found that it is fine for a one time raise, but doesn’t materially change your forward comp path.
Yeah exactly.
Voluptas eaque est consequatur voluptatem eos et quo ea. Aut nobis architecto facere architecto non cumque. Voluptatem sed dolor qui cupiditate. Aliquid voluptates quia et et.
Blanditiis totam quis labore consequatur quo. Molestiae et sit ipsa eos odit error. Est sed aut odit et qui. Voluptatem debitis vel repellat. Occaecati eos quo laboriosam velit est voluptatibus. Deserunt perspiciatis dicta aut cumque.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...