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Salary negotiation: counter-offer intelligence
Is another job offer the smart way to clinch a pay rise? Gamble and win with this insider knowledge.
Competition is a good thing at auctions and sporting events. But when you’re trying to squeeze more cash out of your employer, experts say pitting another offer against your current job can be a tricky tactic to pull off.
Two years ago, Tara enjoyed everything about her job except her pay packet as a mid-level editor at a publishing company. After asking for pay rises and getting only small annual increases, she began looking around. ‘It was sheer economics,’ says Tara. ‘I knew I could get better money elsewhere.’
A competitor offered her a job. She told her boss she was planning to leave and her company matched the salary. So she happily stayed put. ‘I came out smelling of roses, making more money and staying at a job I knew and liked,’ says Tara. ‘I got to choose from two appealing options.’
Sounds perfect. But was her gamble a smart one? Is getting another job offer a smart way to clinch a pay rise with your current employer? Before you play cat-and-mouse with your manager, sharpen your claws with these tips.
First things first
Should it come to this?
Before ‘resorting’ to an offer/counter-offer situation, many experts recommend more straightforward negotiation. Go to reviews armed with concrete facts on what you have achieved and produced, then broach the subject of a pay rise. If cash is hard to come by, talk about payment in kind, such as extra paid holiday, a more robust job title or flexible working hours.
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