Counter Offer

LegacyUser

Hi Folks,

Looking for some advice - I have been offered a good position with a new company that I would be keen to work for. The new position is not necessarily a step up, maybe a step sideways in terms of career progression.

When I approached my current employer they were keen to keep me on and have made me a pretty generous counter offer of increased terms (salary and holidays). The counter offer brings me a fair bit above what the new employer have offered me.

I'm not looking to play each company off each other - that probably does not work anyway, but I would like to see what the new employer think regarding the counter offer. Should I tell the new employer I have been given a counter offer and see what they say? I dont know if I can justify taking the leap of faith for the new role, with worse terms and a longer commute.

I've heard all sorts about people leaving soon after accepting a counter offer. Any thoughts on this.

Thanks!

Idleater

Ignoring the financials (let's assume both roles are equal) has anything changed in the current company that addresses your reasons for leaving in the first place? Also are there any other factors eg location meals training work flexibility etc that one role has than the other?

You effectively have two job offers in front of you and need to pick one.

VonZan

I would contact the person who offered you the job and explain that upon telling them that you were about to undertake new employment that they were keen to keep you and made a significant offer to improve your salary. Then see what they say!

Idleater

VonZan wrote: »

...and made a significant offer to improve your salary. Then see what they say!

They didn't match the new one so why would they feel the need? In fact, playing devil's advocate, you could end up with no job, walking out of the current and not liking (or a revoked offer from) the new.

Leaving an employment in the best of terms may leave the door open (or easier) to return in the future.

You need to evaluate the total package for both options, and sometimes the payment is not the most significant part.

LegacyUser

Thanks guys - really appreciate that.

I agree, I do have to tell them, but I'm a bit worried they may just withdraw the offer.

My senior manager has told me the usual about being very valued and he believes the company I am currently with can offer me more than the new company would. The new company would definitely have more in terms of training and work flexibility - but as regard the rest, its hard to be certain from the outside.

I guess I will have to tell the new employer about the counter offer and hope for the best? Really appreciate your help.

VonZan

Idleater wrote: »

They didn't match the new one so why would they feel the need? In fact, playing devil's advocate, you could end up with no job, walking out of the current and not liking (or a revoked offer from) the new.

Leaving an employment in the best of terms may leave the door open (or easier) to return in the future.

You need to evaluate the total package for both options, and sometimes the payment is not the most significant part.

Maybe you should re-read the post. He hasn’t told the prospective employer yet about the counter offer; the point of the whole thread!!

Idleater

VonZan wrote: »

Maybe you should re-read the post. He hasn’t told the prospective employer yet about the counter offer; the point of the whole thread!!

That was my exact point, by declining their offer, saying that the current one had matched (or who knows improved) there is only a game of bluff going on that the op might win and be very happy with, might win, but have burnt bridges with the new and old job, or might lose both jobs (resignation accepted).

Idleater

Jobio wrote: »

Thanks guys - really appreciate that.

I agree, I do have to tell them, but I'm a bit worried they may just withdraw the offer.

...

I guess I will have to tell the new employer about the counter offer and hope for the best? Really appreciate your help.

You most certainly don't _have_ to tell the new employer. Just be aware of your reasons for wanting the new job. If you tell the new job you just want more money that tells them something about your motivation, and their perception of your performance might be skewed.

Don't get me wrong, I'm all for you getting the best package for yourself. Just take some time over the weekend to discuss the pros and cons of both positions outside of money with whatever friends and family you care to chat with.

Further, I'm not a fan of"counter offers" in general. If their only reason for giving you a fair salary is you holding them to random I wouldn't hold much hope of future increases. I much prefer to see employees leave amicably with the possibility of working with them again in future than burning bridges.

dennyk

Definitely consider what made you go out looking for another job, or at least what about your current job made you open to considering this offer. If the only reason you were considering it was the additional money, then it might be worth thinking about accepting the counter-offer (provided you get it officially set down in writing, of course, so they can't refuse to follow through after you've turned down the new job). However, there are often other factors at play when someone's thinking about changing jobs. More money won't make your current role more fulfilling or fun, or change your relationship with your co-workers or managers, or shorten your commute, or turn a toxic office into a great place to work. It might make up for some of those factors, true, but you'd have to be the one to decide what's more important for you.

Of course, where I'm from, the prevailing wisdom is "never ever ever ever ever accept a counteroffer, period," but that's mostly because they're usually used to get wayward employees to stick around just long enough to train someone cheaper to replace them before they get tossed out on their ass; I suppose that's slightly less likely to happen around here since employers here actually have to have (or at least have to go to the effort of making up) a valid reason to fire you beyond just "Hey, we hired a grad kid to do your job for half your current pay, so you've got ten minutes to clean out your desk...".

LegacyUser

Thanks for the input guys. I guess I have some thinking to do.

Just to clarify, the counter offer puts me 5k above the new employers offer. The commute would be about 30 mins more to the new employer.

Leaving my current employer was less about the money and more about the possible career progression, which is hard to quantify in the new role. As part of the counter offer they have given a bit of reassurances about career progression, but its hard to read into that.

Appreciate your input everyone! A lot of thinking to do.

Eoin

Jobio wrote: »

I've heard all sorts about people leaving soon after accepting a counter offer. Any thoughts on this.

It's something like (at least) 80% of people end up leaving within a year of accepting a counter offer. They get a higher salary, but the original reasons for leaving come back to the fore pretty soon - even when the company genuinely wants you to stay for the long term. And I think once you've committed to leaving, it takes less to make you look around again in the future.

It sounds like you're kinda lukewarm about the new role, so if you're tempted to stay, make sure that not only is the salary bump in writing, but there's a very firm plan agreed to address the non-financial things that made you look elsewhere.

LegacyUser

Eoin wrote: »

It's something like (at least) 80% of people end up leaving within a year of accepting a counter offer. They get a higher salary, but the original reasons for leaving come back to the fore pretty soon - even when the company genuinely wants you to stay for the long term. And I think once you've committed to leaving, it takes less to make you look around again in the future.

It sounds like you're kinda lukewarm about the new role, so if you're tempted to stay, make sure that not only is the salary bump in writing, but there's a very firm plan agreed to address the non-financial things that made you look elsewhere.

I think you are spot on regarding taking less to move on in future. If I do stick, it will most likely be for a year or so at most.

Yeah, its fair to say I am lukewarm about the new role, its mainly because I've taken off the blinkers of "I need to leave my current role" and because of the counter offer, I've been forced to more closely asses the situation.

I'm now looking at a longer commute, for less money and having looked more closely at the role (and striped back some of the buzz that is sometimes in these job adverts) it seems it is basically the same role as I am in, with a fancier title. In saying that, the company have a good name generally and do offer a lot in terms of training/development.

As you can see...I'm still undecided, but getting there - thanks again!

the_syco

Jobio wrote: »

I have been offered a good position with a new company that I would be keen to work for. The new position is not necessarily a step up, maybe a step sideways in terms of career progression.

It comes down to this; you want to work there.

Jobio wrote: »

I've heard all sorts about people leaving soon after accepting a counter offer. Any thoughts on this.

People leave regardless, as extra money doesn't always smooth over the reasons that they wanted to leave in the first place.

Jobio wrote: »

The new company would definitely have more in terms of training and work flexibility

Will the increased pay cover this?

Jobio wrote: »

it seems it is basically the same role as I am in, with a fancier title. In saying that, the company have a good name generally and do offer a lot in terms of training/development.

If the training is done on company time, as opposed to your own time, it's something to look at.

As for the commute; are you paying a mortgage, or can you move to make the commute shorter?

It comes down to one thing; were you looking to move for more money, or because your current company sucks?

If the former, the counter offer will solve this. If the latter, the company will still suck.