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Advice needed- handling job offer

 
#1 Advice needed- handling job offer
14/03/2008 18:55

Troy

I have been offered a new job however when i went to hand in my notice i was offered a significant increase making my new offer fail in comparison- i had all but accepted the new offer and indicated my intention to accept- what should i do- continue with the new job as it has better prospects and dont mention anything about increase in current pay from current employer, or shall i tell them and see if they can match it.

Is there any risk that they will revoke the offer if i do this- i had already negotiated it up £5k initially- i want to see if they will up the offer but dont want them to get annoyed and pull out altogether- but i assume the worst is that they will say no and original offer will stand

any ideas- the new job would mean less travel and better hours and much more interesting so dont want to lose the opportunity

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#2 RE: Advice needed- handling job offer
15/03/2008 08:48

Mickey to Troy (#1)

I had a friend in this situation before - he's not an MC but a petroleum geologist, but don't think this makes much difference. He let the knew company know about the old one's counter-offer, and the new guys offered to match it. In financial terms it was even stevens, but he moved anyway as he was sick and tired of the old place. Obviously, there's no guarantee that every firm reacts in the same way.

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#3 RE: Advice needed- handling job offer
16/03/2008 15:14

Corporate Whore to Mickey (#2)

Troy, you need to identify the reasons you chose to seek new employment. If it was for (almost) anything apart from financial reasons, then staying with your current employer might not be the correct decision. Money can only motivate you in a dire role/environment etc for so long.

"continue with the new job as it has better prospects"

What are these better prospects? Is the salary increase sufficiently greater than the perceived value of these better prospects?

"the new job would mean less travel and better hours and much more interesting"

It seems like you have subconciously already made your decision, but the salary increase is making you search for reasons not to accept.

Corporate Whore - http://corporatewhore.blog.com

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#4 RE: Advice needed- handling job offer
16/03/2008 15:46

Troy to Corporate Whore (#3)

Thanks for that- still need to know whether there is any issue with going back to employer asking for more money- i assume at worst they will say no - can they withdraw original offer?

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#5 RE: Advice needed- handling job offer
18/03/2008 10:34

Mars A Day to Troy (#4)

They could make the case that an increased offer would in fact be a new offer, and I assume that you have not yet received a contract? I think the advice you have received here is spot on: consider whether £ is the only motivating factor. If it is then go back and ask for an offer at least parity with what your current employer has offered (or more if there is any element of risk in the move). The worst they can do is decline to increase the offer, or withdraw it anyway, and if it really is all about the money then you have achieved your aim anyway. But the fact you are concerned about their reaction suggests you are not solely motivated by £ and in fact want to make the move. Beware the counter offer: whatever it is which has driven you to look for a move will only get worse, increase in £ or not; moreover the bond of trust/loyalty has gone for the moment, and it will take some time to re-establish it; during this period you are at risk, and there could be plans in place to replace you. You see it as about z,y,z reasons you were looking to leave in the first place and see £ as a band aid to cover it up; your current employer has just stamped NOT ONE OF US in big red letters across your personnel file. The collective consciousness of management does not easily forget what they often perceive (but do not state) to be disloyalty.

Tell your potential new employer you really want to join them - sell them again on what you like about them, why the role would be a great move for you. And then ask them to match the counter offer. There is likely to be a little more room to manoevre in the hiring budget than they may initially suggest.

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#6 RE: Advice needed- handling job offer
18/03/2008 10:52

profit of doom to Mars A Day (#5)

I think your copy book is blotted with your current company anyway. accepting the counter offer is a stay of execution rather than a long term solution. Whatever made you want to leave will reappear down the line. I am a head-hunter (yawn) and sometimes receive calls asking me to search for a replacement for someone who has accepted a counter offer. I cannot remember the exact stats but it is something like 80% of those who accept a counter offer end up leaving within 6 - 9 months (ish, this is off the top of my head). May not be a problem for you. My advice is to tell the new company about the counter offer and test their response. Make your motivation to join them clear and tell them that you want to join them. Clearly, however, you have a family to feed/mortgage to pay etc etc or whatever it is and that this is now not such a straightforward decision. You owe it to the new firm to tell them the facts. You must not make them feel that you are holding them to ransom, however. They will close ranks if you do and make alternative plans.

Counter offers can be a short term paper over the cracks job - it is cheaper to pay you extra in the short term while they search for someone else. It can also be a simple case of giving you a pay rise, which you were due a little earlier than they planned to - ie you will be stuck at that level for a long time. Prove yourself at the new company and you will probably get the new salary down the line anyway...

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#7 RE: Advice needed- handling job offer
18/03/2008 11:01

Tom to Mars A Day (#5)

I am currently with PA, and have an offer from a competitor, which is £12k more than my basic at PA. My bonus this year was £9k (closer to £7k, once you remove the employers NI and the deferred element), so even before any bonus at my new employer, its still a lot more money.

I can’t resign at PA until Tuesday April 1st , or I will lose my bonus (two weeks and counting …)

I really like the people and the culture at PA, but the pay is well below market norms. Obviously I want to go back to my employers to tell them that I’m moving due to poor pay. My question is, though, do I be open and tell them that I want £12k more, or do I tell them that this is a private matter between me and my new employers, but I’d be open to PA making a revised offer.

My aim is to stay at PA, but I’m fed up with being paid so far below the market rate. Which negotiating tactic would be better? Come clean, or let them guess …

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#8 RE: Advice needed- handling job offer
18/03/2008 11:13

Zibwe to Tom (#7)

PA pay is awful. It really is. How it manages to keep people is beyond me.

PA makes profit by volume rather than price.

Pay is, as ever, heavily sckewed towards the partners and senior partners. The people are poor in terms of what they do and it is a testament to thier resillience and luck that they are viable

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