Hello All,
Quick question and seeking advice. Say you were at a job for about 6 months and very much enjoyed it. Felt you were a little under paid, but the atmosphere, people, and other factors at the current position made up for it including room to advance over time. You were then offered another similar job (applied for and just getting back to you) that would be a 33%% raise. However you do not know if you would like it or the company.
Is it worth the risk to leave for the pay raise?
Would discussing options with your current boss such as asking for say only a 20% raise be frowned upon even though it is because you honestly want to stay at your current position but really can use the increase??
Thanks in advance
I would focus on where you say "room to advance". If your current job has all the right characteristics, except for pay, but with room to advance / pay will improve over time, it sounds like a good situation.
The new job could provide a quick bump in pay, but it might be a dead end. So over 3 years or 5 years (if you plan on staying that long) you might do better at your current job.
33% is a significant raise though and you shouldn't be underpaid "just because". Try to figure out why you are being paid less - is current firm smaller, less well capitalized? Has business been flat, deteriorating, or getting better? Would the new job really be similar - hours, expectations?
The complicating factor is that you've only been there six months and this new offer isn't going to wait.
I guess I'd fall back on Goldman's "Be long term greedy". Which is the better job for you considering where you want to be and how much you'll be earning a few years out.
I think you're in a good spot to get a raise. You can lay it out just like you did here to your current employer. You love the job, you love the people, and all that stuff, but you have another offer that is paying X more. You have to emphasize how much you want to stay at your current firm, but you can't just leave a pile of money on the table.
First, I would try to negotiate the other offer higher and then I would take it to your current employer to try to get them to match it. If you play your cards right, you very well could end up earning a lot more at your current job.
Of course, you are taking some risk that your current firm just tells you that you have a great offer and you should just take it. Or, they may try to convince you to stay without increasing your pay...if that happens, you have to leave because they will know they can pay you like shit from then on.
This may help as well: http://www.wallstreetoasis.com/blog/how-to-negotiate-for-more-money-dur…
[quote=SirTradesaLot]I think you're in a good spot to get a raise. You can lay it out just like you did here to your current employer. You love the job, you love the people, and all that stuff, but you have another offer that is paying X more. You have to emphasize how much you want to stay at your current firm, but you can't just leave a pile of money on the table.
First, I would try to negotiate the other offer higher and then I would take it to your current employer to try to get them to match it. If you play your cards right, you very well could end up earning a lot more at your current job.
Of course, you are taking some risk that your current firm just tells you that you have a great offer and you should just take it. Or, they may try to convince you to stay without increasing your pay...if that happens, you have to leave because they will know they can pay you like shit from then on.
This may help as well: http://www.wallstreetoasis.com/blog/how-to-negotiate-for-more-money-dur…]
[quote=SirTradesaLot]I think you're in a good spot to get a raise. You can lay it out just like you did here to your current employer. You love the job, you love the people, and all that stuff, but you have another offer that is paying X more. You have to emphasize how much you want to stay at your current firm, but you can't just leave a pile of money on the table.
First, I would try to negotiate the other offer higher and then I would take it to your current employer to try to get them to match it. If you play your cards right, you very well could end up earning a lot more at your current job.
Of course, you are taking some risk that your current firm just tells you that you have a great offer and you should just take it. Or, they may try to convince you to stay without increasing your pay...if that happens, you have to leave because they will know they can pay you like shit from then on.
This may help as well: http://www.wallstreetoasis.com/blog/how-to-negotiate-for-more-money-dur…]
That is some very good advice and much appreciated. My only other question is how do I let my boss know I have another offer without him thinking I am out searching for other positions??
Officiis maiores esse porro rem. Quas repellendus culpa sunt harum dicta dolorum. Ipsam ut velit sit fuga possimus autem non. Necessitatibus alias laboriosam iusto et culpa. Voluptates rerum et inventore quod. Dolor labore tempora facere velit. Et eveniet eum autem ut eum.
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...