Should I negotiate and howHi, I started looking for a new job because I want to make a career change to program/project management and I received an offer for an entry to mid-level new product introduction/launch program manager position. The salary they offered me is $90k a year (my current salary is $99k). My current company counter offer with $125k annual salary + 25k cash bonus if I stay for 1 year and another $30k cash bonus if I stay for a 2nd year. My current company also offer me a technical team lead position (almost equivalent to an engineering project manager in terms of responsibilities). I don't think I really want to stay with my current company even though the money is good. But should I try to negotiate for more money with the new company? The new company did say they are looking for an entry level program manager so they will not offer that much money. And I have already accepted the offer and signed the offer letter. What should I do? Thanks!
If you have already signed the acceptance offer, you can't go back for more money. If you tried that with me I'd find someone else for the job.
You're kidding, right? Your present employer is offering you FIFTY-ONE THOUSAND DOLLARS more to stay and you're wondering if you can re-negotiate an offer for essentially an entry-level job with an offer of $90K in another discipline? Not only that, you accepted the lower offer and signed the offer letter! Obviously, the decision is up to you, but were I in your position, I'd politely withdraw my acceptance - a signed offer letter is not the same as an Employment Contract, so you can withdraw your acceptance for whatever reason you choose, but even if you decide to let FIFTY-ONE THOUSAND DOLLARS and a promotion fly out the window on wings of thousand dollar bills, you still can't re-open salary negotiations after accepting the other company's offer. And, as I read it, your compensation package will up another $5K if you agree to stay two years? I'm sorry, but turning down $150K and a promotion to take a job for $90K in another discipline - unless you're independently wealthy - makes no sense to me at all... Paul W. Barada The Negotiation Expert Hi, Thanks for your reply. I absolutely agree with you on the money side of the equation but maybe I should've given a little more background on the current state of my company. The reason I am considering leaving is because the company (own by a Japanese company) has been losing money (lots of) in the past few years. The problem is deeply rooted in the management structure in the US office and I don't see them fixing it any time soon. (They haven't in the past few years!) I also think they will substantially reduce the US workforce in the next year or 2 and offshore most of the work (just had a layoff last week). I agree (and most people would tell me) this is probably one of the best counter offer any companies would've made (money+promotion). However, I am considering this job change as a career move into program/project management which is what I want to do. So, to me, it seems like a decision between a career move vs short-term gain (an opportunity vs $50k). I guess it could turn out to be a very expensive gamble! Thanks! PS. I agree I should not (and will not) re-negotiate the offer with the other company. OK, I appreciate the point you're making, but I wouldn't jump ship just yet, if I were you. You're presuming that they will continue to reduce the workforce and continue to lose money. It could be a tough balancing act, but were I in your position, I'd stay, collect the extra backs and quietly continue my job search until a better offer comes along than the offer you described. In other words, don't jump at the first offer that comes along, particularly when it's such a big step down. That's what you may eventually have to do, but in the meantime, you've been offered a whole lot of cash to stay and I can't imagine they'd do that if they were planning to get rid of you right away. Let me put it another way - I'd like to be a novelist, but I'm not quitting my day job until somebody likes the manuscript I've written and wants to put some money on the table. You want to get into project management. Even if you end up with an entry-level position, in not too distant future you'll have socked away a very nice chunk of change. Paul W. Barada The Negotiation Expert I have to agree with Paul on this one. They're not beating you in the basement at your current job. There's no huge reason not to stay there until they actually pull the plug and let you go. In the meantime, you'd be banking that extra cash for the time when that does happen and be in a really good place to switch jobs when you're a lot closer to having to do so. Unless you're completely miserable where you are, I'd stay. If you're miserable, take the other offer (without any more negotiating) and move on.
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