New Offer is lowHello all, I would like some advice, and here's some background on my situation. I work for a large consulting company. The project I am currently assigned to is winding down due to unforseen circumstances and over 100 people on my workforce are being re-deployed to other projects. The problem is, there are not many in-town positions available and I am not in a position to be able to relocate at this time. Nor do I wish to travel 100%, which is another option. Due to the large number of re-deployments going on, HR is apparently overwhelmed and not helping much with new assignments. I have one month left on the project and then an additional month of 'bench time' to find another assignment or I will be let go. For this reason, I entered the job market once again. Well long story short, I had an interview with a medium sized software company yesterday afternoon and, to my surprise, received a verbal offer this morning. The only issue I have is, the offer is less than 2K above what I'm making now, and the benefits are slightly less appealing (smaller 401k match, four years to vest, etc). Not really a deal breaker, but still not the at least 10% increase I was hoping for. I told the HR person over the phone that I was hoping for a higher number but that i would need a few days to consider the offer. She said 'no problem, take your time' but that the offer was already "stretched" due to my exceptional background and experience. Meanwhile I am still getting lots of 'bites' on my resume and have a couple of applications in the works (with at least 10k-20k higher salary ranges), but no other interviews or offers just yet. I like this company and I do see potential for my position going forward. My question is, how should I approach the salary negotiations, if at all? What is the likelihood that I will be able to negotiate an increase all things considered? Thanks in advance for all advice. Hi Developer, Since you are getting bites on your resumes, most likely you will have another interview that will turn into another offer. If you can wait until that happens, I would go back to the first company and let them know that you would like to work there but you are getting offered XX amount to go do the same thing somewhere else and to see if they can at least match what you asked for. If they are being truthful about having stretched the salary offer to the limits, then there isn't much more you can do. Unless you absolutely love the first company and the people that work there, I would wait for a better offer. A "bite" is a long way from an offer of employment you like. If I were your, I'd call the HR person and politely ask if their initial offer is negotiable and see what sort of response you get. If it's not, I'd still be tempted to accept it because in another 8 weeks you'll be unemployed - assuming nothing else changes. If the offer is negotiable and you're asked what salary you have in mind, I'd counter with a range that's 5% to 10% more than you're earning now, not the customary 10% to 15% because that amount sounds like just might be a deal-breaker to me. If another solid, more attractive and more lucrative offer comes along between now and 8 weeks from now, you can always resign and take the better offer, but there's no guarantee - at least at this point - that another offer will be forthcoming. I'd hate to let this opportunity slip away over a few grand in salary that may - or may not be offered to you someplace down the road. Your negotiating power is greater now, obviously, that it will be when you're unemployed. Hope this helps. Paul W. Barada The Negotiation Expert Thank you for the great advice. Your advice actually was very close to my initial feeling about the situation. Even though there is a lot of interest in my skills, I do not have any other forthcoming offers at this time and I just cannot bank on there being any. I wouldn't bet my mortgage on it, as they say. I have put in some questions with HR and I am awaiting their reply. I got the feeling that their interest was really high since I received the offer less than 24 hours after my interview. I have not however given the impression that this was a deal breaker, I am just trying to get a deal that makes me feel great about the move rather than feeling like I have stayed flat or gone backwards (compensation wise)...
Well here's a twist. This morning I hear back from the new company.They came back with a slightly higher offer in response to my request,and I was feeling great about their willingness to work with me, andfeeling good about possibility of working there. I promised them adecision by tomorrow. Then, this afternoon I get the call I had been waiting on for twomonths. My current employer has finally found another assignment for mein town, at the project I originally applied for, and a role with asought after title. They want to interview me early next week! Now I don't know what to do. I do feel a sense of loyalty to myemployer, but in another sense I am ready to move on to a differentchallenge. Oh my.... Any advice??? With no offense intended, what's to say that at this end of this latest project you won't be in exactly the same boat again? Based on what's been written, I would be inclined toward the permanent job as opposed to facing the uncertainty of subsequent projects coming my way or, for that matter, not coming my way. Depends, I guess, on how much of a risk taker you are. Paul W. Barada The Negotiation Expert Good point, and exactly what I was thinking as well. This new project will go on for about 1 1/2 years, with possible extensions and then I will be in the same situation, without such an interesting offer in hand. I'm going to take the offer and take my chances with a new company. And of course, no offense taken. Thanks again! Good for you! Paul W. Barada The Negotiation Expert | |
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