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Using a job offer to get a raise at your current job: Advice?
Posted on 7/18/14 at 3:05 pm
Posted on 7/18/14 at 3:05 pm
I'm in sales and really enjoy where I'm at and what I'm doing.
A few days ago I was contacted by a recruiter who wanted to speak with me about a sales job in the same industry for the most part. Their base pay is higher than what I'm making now. It's not "holy shite" higher but it's enough to give me a little more stability.
How should I go about using this opportunity to get more money out of my current job without pissing people off?
Who has been in this situation and how'd you handle it?
Any advice is greatly appreciated.
A few days ago I was contacted by a recruiter who wanted to speak with me about a sales job in the same industry for the most part. Their base pay is higher than what I'm making now. It's not "holy shite" higher but it's enough to give me a little more stability.
How should I go about using this opportunity to get more money out of my current job without pissing people off?
Who has been in this situation and how'd you handle it?
Any advice is greatly appreciated.
6
Posted on 7/18/14 at 3:08 pm to King of New Orleans
Unless you're ready to walk if your current company says they won't match, don't do it.
Posted on 7/18/14 at 3:10 pm to Bassmaster
quote:This
Unless you're ready to walk if your current company says they won't match, don't do it
Posted on 7/18/14 at 3:12 pm to Shadowlink
Why do you say that? If they don't match, I could essentially just stay. I'm not so much interested in the other job as I am just wanting more money. I know if that's the case, I could just ask for a raise. I was just thinking that having an offer might be beneficial when asking for the raise.
Posted on 7/18/14 at 3:16 pm to King of New Orleans
quote:
I was just thinking that having an offer might be beneficial when asking for the raise.
do you have an offer?
or were you just contacted by a recruiter?
Posted on 7/18/14 at 3:17 pm to King of New Orleans
quote:
Why do you say that? If they don't match, I could essentially just stay.
If they don't match, they are essentially telling you that they don't care or want you to leave...
Posted on 7/18/14 at 3:20 pm to Salmon
I've spoken to them enough to feel confident I'd have an offer. I wouldn't put an offer in front of my current employer unless I had it.
I guess that makes this a hypothetical situation. I'd still like any advice. Thanks.
I guess that makes this a hypothetical situation. I'd still like any advice. Thanks.
Posted on 7/18/14 at 3:30 pm to King of New Orleans
quote:
I've spoken to them enough to feel confident I'd have an offer. I wouldn't put an offer in front of my current employer unless I had it.
You better have it in writing. Many people have done what your thinking only to have your new prospective employer pull the offer off the table for many reasons. Example sales guy from our company was contacted by a competitor and offered salary X, a company car + a nice expense account. He went to our bosses after a bout a week to try to get the same deal. They said no thanks we suggest you take the offer from Company X. Guy went back to the guy who he negotiated with and the guy got canned and the company wouldn't honor the deal. He had nothing in writing only verbal communication of said offer. Better to piss off the guy who may sign your check than piss off the one who does sign it.
This post was edited on 7/18/14 at 3:33 pm
Posted on 7/18/14 at 3:32 pm to King of New Orleans
If you leverage an offer to get a raise and don't get a raise, you pretty much have to leave. Otherwise, you would have a very complicated relationship with your employer if you stay.
If you get more money using another offer as leverage, you will 1) have communicated to management that you are only with them for the money and don't have any loyalty to the company, 2) will never have them back you if a judgment call needs to be made between you and someone who hasn't put them on the spot, and 3) will have them expecting more out of you since they have to pay you more and you held a gun to their head. The moment they perceive the work product isn't worth what they had to pay you, they might drop you anyway.
I wouldn't leverage. The only exception is if they are paying you below market or are holding you back from a promotion that you are long overdue from and you are trying to get to market level- that is reasonable, especially if you frame it as such. If this is to get more than market from them or get a promotion that you aren't ready for, it is dangerous IMHO.
If you get more money using another offer as leverage, you will 1) have communicated to management that you are only with them for the money and don't have any loyalty to the company, 2) will never have them back you if a judgment call needs to be made between you and someone who hasn't put them on the spot, and 3) will have them expecting more out of you since they have to pay you more and you held a gun to their head. The moment they perceive the work product isn't worth what they had to pay you, they might drop you anyway.
I wouldn't leverage. The only exception is if they are paying you below market or are holding you back from a promotion that you are long overdue from and you are trying to get to market level- that is reasonable, especially if you frame it as such. If this is to get more than market from them or get a promotion that you aren't ready for, it is dangerous IMHO.
This post was edited on 7/18/14 at 3:33 pm
Posted on 7/18/14 at 3:43 pm to King of New Orleans
Four things can happen.
1) They match it, but you just seriously raised the bar for yourself. You are going to have to prove you are worth the additional money.
2) They don't match it, and you stay. Things are awkward now, and trust, me, you basically have one foot out the door.
3) They don't match it, and you take the new job.
4) They don't match it, and they tell you that you should go ahead and take the new job, because you are not welcome here anymore. I've seen this happen several times.
That's why other are saying you better be prepared to walk.
I would try another tact. Is it easy to figure out what "market" is for your posistion? If you can, get that data, and perhaps use that as a discussion with the boss. Be prepared to show why you deserve the additional pay, and what better/new stuff you will do.
If you are on commission... can you negotiate a higher cut?
1) They match it, but you just seriously raised the bar for yourself. You are going to have to prove you are worth the additional money.
2) They don't match it, and you stay. Things are awkward now, and trust, me, you basically have one foot out the door.
3) They don't match it, and you take the new job.
4) They don't match it, and they tell you that you should go ahead and take the new job, because you are not welcome here anymore. I've seen this happen several times.
That's why other are saying you better be prepared to walk.
I would try another tact. Is it easy to figure out what "market" is for your posistion? If you can, get that data, and perhaps use that as a discussion with the boss. Be prepared to show why you deserve the additional pay, and what better/new stuff you will do.
If you are on commission... can you negotiate a higher cut?
Posted on 7/18/14 at 3:54 pm to Crbello4Hiceman
quote:
I wouldn't leverage. The only exception is if they are paying you below market or are holding you back from a promotion that you are long overdue from and you are trying to get to market level- that is reasonable, especially if you frame it as such.
I personally think this is terrible advice. If there is a competing offer that is above your pay; that is market.
It all depends on your relationship with your boss and how you are perceived in the company. If you are perceived as valuable and a top performer among your peers, they will be happy for the opportunity to keep you. While if you aren't a top performer they will tell you to take the offer or that they can't match.
Your action is viewed through your superior's perception of your work. Also, you can have this conversation without it seeming like a money grab.
To people that are too afraid of asking, you will never get what you deserve. Businesses aren't benevolently generous. You have to ask.
This post was edited on 7/18/14 at 3:56 pm
Posted on 7/18/14 at 3:55 pm to LSUFanHouston
Solid advice guys. I appreciate it. Some things y'all mentioned were things I hadnt yet thought about. I'm base + com. I might just need to take more time to figure out a better way to approach it.
ETA: the president of the company has told me he sees the asset I am to our company because of things I've been able to do. My sales manager likes me a lot and we have a great working relationship, FWIW.
ETA: the president of the company has told me he sees the asset I am to our company because of things I've been able to do. My sales manager likes me a lot and we have a great working relationship, FWIW.
This post was edited on 7/18/14 at 3:58 pm
Posted on 7/18/14 at 3:56 pm to King of New Orleans
Where do you rank in Sales volume among your peers?
Edit: How long have you been there?
Edit: How long have you been there?
This post was edited on 7/18/14 at 4:07 pm
Posted on 7/18/14 at 4:10 pm to Duck
All I can say about this is that I have gotten raises that have my salary way above what it would have been if I had left for 5% raises at other companies. If you work hard and add value and your company is reasonable, it will pay off to be loyal. Now, if tehy aren't willing to promote or pay you what your work is worth, then they aren't holding up to their end. Being a job-jumper every time you can grab a 5% raise is not a smart way to build a career.
How many times is it smart to pull this stunt in your opinion? Monthly? Every time you hear about an offer to make 3% more than you are making now? Tell me how terrible my advice is. Please.
How many times is it smart to pull this stunt in your opinion? Monthly? Every time you hear about an offer to make 3% more than you are making now? Tell me how terrible my advice is. Please.
Posted on 7/18/14 at 4:19 pm to Crbello4Hiceman
quote:
Crbello4Hiceman
All good (and fair) points, but what if he is already underpaid for his current position? People get bumps in pay all the time to match the market so they won't leave........provided they are a true asset to said company.
Posted on 7/18/14 at 4:23 pm to Crbello4Hiceman
I agree with Crbello. I am very big on loyalty. I'm not a guy who would pull this every month or anything. In all honesty, I don't want to leave where I'm at. I love my job, my coworkers, and boss. I could just use a little more money. I haven't been here too long so I know as time goes on, I'll make more. Especially in commissions. Just right now, I could benefit. If that makes sense.
ETA: I'm making a little under what I asked for when I was offered the job. What this new offer would give me would give me a little bit more than what I asked for with my current company. Like I said, it's not earth shattering but it would help me.
ETA: I'm making a little under what I asked for when I was offered the job. What this new offer would give me would give me a little bit more than what I asked for with my current company. Like I said, it's not earth shattering but it would help me.
This post was edited on 7/18/14 at 4:25 pm
Posted on 7/18/14 at 4:26 pm to idlewatcher
Right- if the market for is position is $60k and he is currently getting $45k and the other company is offering him $60k, he is justified telling his current company he would like to match it.
On the other hand, if he is currently getting market (in this case, $60k) and the other company is offering him $65k, I maintain it would be much wiser to stay the course where he is at, especially if it is a lateral title.
I've worked for 2 CPA firms and work for an oil company now. Each time I made a move, it was either for a big title change or a raise of at least 20%. Not saying never look around, just saying that it needs to be a significant move to be worth it and if you are making market pay and moving to a lateral position with a slightly higher pay, it probably isn't worth it to disturb any goodwill you may have with your employer.
On the other hand, if he is currently getting market (in this case, $60k) and the other company is offering him $65k, I maintain it would be much wiser to stay the course where he is at, especially if it is a lateral title.
I've worked for 2 CPA firms and work for an oil company now. Each time I made a move, it was either for a big title change or a raise of at least 20%. Not saying never look around, just saying that it needs to be a significant move to be worth it and if you are making market pay and moving to a lateral position with a slightly higher pay, it probably isn't worth it to disturb any goodwill you may have with your employer.
Posted on 7/18/14 at 4:31 pm to Crbello4Hiceman
Solid points Crbello
Posted on 7/18/14 at 4:32 pm to King of New Orleans
Posted on 7/18/14 at 4:43 pm to Crbello4Hiceman
quote:
I maintain it would be much wiser to stay the course where he is at, especially if it is a lateral title.
Agreed. They had a radio segment on the other day talking about the "professional company man" and that you are destined to be underpaid by sticking with the same company for several years and that research (not sure whose) has shown that changing companies (or industries) every 2-3 years positions you to optimize your pay. I can see how that would work quite clearly being in the O&G biz.
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