I was offered a job paying me $50,000 more then my current employer. I went through the drug screening and was extended the offer in which I verbaled that I would take it. I placed my two week notice today and my current employer came back with the same offer and $10k more.
Is it appropriate to ask the new employer to match this offer, and if they do not match it, am I a douche for bringing the offer all the way to this point and backing out?
| +169 | Ideal College/Recruiting Timeline | 38 | 4h | |
| +60 | Lied on CV? | 52 | 6h | |
| Got fired after 1.5 years as an Analyst, want to stay in Banking but I am confused | 7 | 11h | ||
| +25 | Amazing offer but I’m drowning in debt | 13 | 7h | |
| +25 | Is there a point to networking if you have (nepo)? | 6 | 4h | |
| +23 | Are Single Managers Just Not Hiring? | 10 | 2d | |
| +19 | NYC Consumer PE/Growth Funds with decent comp but amazing WLB? | 6 | 5d | |
| +19 | Trying to break into IB | 7 | 4d | |
| +18 | Job Switch Advice | 4 | 3d | |
| +18 | SHIFTING FROM LAW TO FINANCE | 14 | 13h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
No, I don't think so. You are competing in a marketplace and so are they. I think the $10k difference after a $50k increase is immaterial so I would go with the better opportunity. Make sure you have room to run at your current firm if you stay - you don't want to get in a position where you become too expensive and they start to really slow down your bonus/salary raise to compensate for you previous increase.
A senior analyst at my previous employer had a similar situation and ended up staying with the sweeter offer, but they hammered him on his bonus and he ended up quitting after that.
I've seen literature on how you shouldn't take increases after you say you're leaving because people will brand you as someone who's ready to jump ship, etc. I have no personal experience in that dept. though, so who knows.
I will say man. Congrats to you. Either your description is outdated, or you crush it, cause as a first year banking analyst to be offered a $50k increase... and then have a bank match that... that's pretty great haha
First of all, congrats on the offer, OP. You should ask the new company to match the offer - but I don't think they will because they know that their offer is already $50K above your current salary, which is fucking high in any market. Asking them to add another $10k is kinda dickish, given the economy and market, etc. $10K extra is of course more money in your pocket, but there is a risk that the company seeing you as a douche from the start.
But whether they match it or say fuck you, you should still take the offer from the new company. Don't back out and go back to the current employer, and here is why:
To me, this is like cheating on your gf (assuming that you are a guy). You cheat on her, and the gf says "I can change! I will do this, this for you. And you get back with your gf. All good, but do you think your gf will ever trust you?
Same thing for company. Once you told your employer that you went out and got a new offer, that means that your boss will never trust you or look at you the same way again. The only bargaining chip you have against the current company is the new offer, and once you let it go, you got nothing.
.
I'd leave anyway - think about it. You got another offer for $50k more, which is significant in just about any industry. Your current employer easily beat it by offering even more money. That tells me that they know 2 things: 1) they severely underpaid you and 2) you want/are willing to leave. Who's to say if you stay they don't start looking for your replacement right away so they can then underpay that guy? I would say that they matched your offer because you're irreplaceable, but an employee you can't easily replace knows who they are and are treated as such. Just leave. After a $50k bump, $10k can't compensate you for a better opportunity/upward trajectory.
Dolorem voluptas sit illum vel ea nihil. Fugiat incidunt et iusto libero suscipit nam. Alias aliquam accusantium sequi sit consequatur quidem. Omnis recusandae sint non maxime vitae aut repellendus. Debitis nisi aut sequi et dolore rerum.
Ullam ab explicabo sequi est cumque quisquam. Sequi asperiores autem autem sunt ducimus. Deserunt voluptatem quo molestiae animi. Autem magni perspiciatis quia deserunt.
Voluptate et est consequatur ratione iusto ipsum. Illum sequi ea assumenda vel fugiat nihil. Voluptatum ut repellendus et ea ipsum quos. Iste ipsum tenetur molestias autem. Ad repellat quaerat facere autem. A tenetur ipsam qui.
Error aperiam quia aut officia sint fugiat molestiae. Et laudantium et ut labore quos. Laudantium beatae sint ullam expedita cum omnis dolorem ipsam. Quasi autem corrupti deserunt aliquam officiis qui aut. Ea laboriosam at eum voluptatem quas est. Nam est eligendi ab minima.
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...