Does Accepting a Counter Offer at Your Current Job Really Work?

Career, Money

NO!

Please do yourself a favor and don’t accept a counter offer from your current company, especially if you already told them you accepted the other offer.

You may be flattered you’re getting the recognition you finally deserve but trust me your employer isn’t giving you the counter offer because they think you’re a super star. They are giving you a counter offer only because you are leaving at a very bad time for the employer and keeping you is less expensive and less hassle than to find someone else.

Think about all the times you’ve asked your employer for more pay and/or responsibilities and they come up with excuses as to why. They don’t want to say that the real reason they didn’t want to move you up is because it is certainly cheaper to keep you at your current role instead of paying you more. And of course pile you with more responsibilities.

Counter offer is only to the employer’s benefit, not your benefit.

What should you do when presented with a counter offer? Don’t tell the employer, “I’ll have an answer by Monday”. You tell them, “Thank you, you’ve been very good to me but my mind has been made up”.

Give your resignation notice, leave and go seize the new job opportunity!

Here’s Why It’s to Your (Financial) Benefit to Disclose Your Salary to A Recruiter

Career, Money

During a phone screen with a recruiter, you’ll often get asked this question or similar:

“Do you know what you would be targeting from a compensation standpoint?”

What would be the best response to that question?

Avosb / Getty Images/iStockphoto

OPTION #1: “What is the range for your position?” or,

OPTION #2: “I am making X. Money’s not the most important thing to me; what’s most important is finding a good fit. I’m negotiable”

Most people suggest to go with #1. Based on my experience, this is one of the worst and riskiest responses. There’s some theories as to why you shouldn’t disclose but the truth is doing that creates more scenarios that is a waste of time for you and the employer.

Here’s what often happens next from phone screen after asking that.

Recruiter: “….Why won’t you give me a number?”

You end up in an awkward position trying to come up with another answer. Some recruiters get really weird on the phone after that response. If your recruiter does give a range, there is a chance that the range can be lower than the true midpoint for the role.

Your main priority should be to find out more about the job, not how much it pays.

You have very little knowledge about the job during a phone screen. By going with #2, not only you screen out employers whose ranges are out of reach with what you are currently earning, you have now prevented yourself getting offers below or near your current pay. You also are likely to move to the next stage of the hiring process.

I really like #2 and have used it myself. I either state total comp if I think the range is higher or state my base if I think the range is lower. Here’s a response I’ve gotten from recruiter:

“Great. I want to assure you that our company when they find the right candidate they will come back with a package that the candidate will be happy with”

I have never gotten an offer I was not happy with, always gotten at least 30% to previous base each switch. #2 works very well & encourage everyone to do that, especially if #1 hasn’t gotten you anywhere.