How do I take advantage of a much better offer in monetary terms if I don't actually want to change companies?

Question

I recently received a very interesting monetary proposal from a recruiter. The whole process is still very much in its infancy, so nothing is certain and there is no concrete offer yet. However, I have already been told several times that my profile fits the advertised position very well.

At the same time, I am very happy with all the circumstances apart from the money at my previous company and I have an appointment with top management in a month's time to discuss my future development within the company. I have already been told by several managers that they want to keep me as a future manager in the company.

I don't know to what extent the appointment at my current company will reveal concrete prospects or whether I can only expect to be put off. However, I have already asked my line manager for specific salary increases in the next six months, as I am already making more than is stipulated in my current contract. However, this demand is far below the new offer.

What is the best way to play my cards? I am reluctant to give up my network and current circumstances, but I don't want to sell myself short any longer. The new company looks interesting, modern and sustainable and is similar in size and sector. Maybe I'm just too comfortable to break out of my comfort zone and because I would have to drive a lot longer. Should I tell my current employer about the recruiter's contact before the upcoming appointment? Should I only tell them at the meeting itself? What is the best way to phrase it without it being taken as blackmail?

Answer 1

However, this demand is far below the new offer.

Maybe, maybe not. Some recruiters are good about this thing but others just blow hot air without any data or justification. I wouldn't take any numbers at face value until you have something much more concrete in hand.

What is the best way to play my cards?

By having an open discussion with your management. This will require you to do some homework. First rule of negotiations: determine upfront what you want, what is acceptable to you and what isn't, and what it takes for you to commit. A good opener could be "I really like working here and want to commit for the long term, but I'm also fairly unhappy with my compensation. I would like to understand what steps we could take to address that what my compensation potential here could look like".

Then ask for specific plan: What are the concrete steps that will be taken? Each of these should have a (ideally quantitative) success criteria and a time line. If the plan makes sense to you, if the company is taking this serious, and if it hits your goals, than you have a good path forward.

Should I tell my current employer about the recruiter's contact before the upcoming appointment?

No. Unless you have a written offer with a number in hand, this is just vaporware.

Should I only tell them at the meeting itself?

Depends on what state your offer is in and how the conversion is going. Ideally you don't need to go there at all. But if they talking numbers and the numbers are below your goals, it's ok to bring this up. Do NOT talk about this unless you are actually willing to leave. Otherwise you just going to make a fool out of yourself.

What is the best way to phrase it without it being taken as blackmail?

I'd start more on the opaques side: "My own market research has shown that my compensation is significantly below my current market value". Then observe how the react. If they ask directly ("are you looking", "do you have an offer in hand?", "how do you know this?"), you can answer more directly.

But be aware: once the genie is out of the bottle, it won't go in again. If you throw out a number and they can't get there (which is entirely possible) than you either need to backpaddle or you need to walk.

That's why it is so important to set your goals BEFORE the meeting.

Answer 2

I think you need to choose what is more valuable for you: the salary or the network and circumstances, as apparently you cannot get both at the same time.

You can play the card of giving notice and see if you get a counter offer to make you stay. But...

• You might not get a counter offer at all. I had a former colleague go through that. Hoping that they would get a counter offer, they went to their manager to give notice, and they only got a "I am happy for you, good luck with your new job". Let's put it very mildly and say they were not very happy about that.
• If you get a counter offer and you accept it, it will be hard to convince your manager and the company that you are not there just for the money. This might affect the chances that they put you in their long term plans.

You can simply ask for the raise and see if it materializes, while the other offer moves forward in its path (without mentioning it to your current employer) and then make a choice later, should the other offer become concrete, but also in this case you need to choose what has more value for you, and follow that choice.

Answer 3

Recruiters cannot be relied upon in general, and it's very likely that you could delay accepting any new offer of employment until after your internal appointment has occurred, so no conflict may occur.

I would only consider discussing the offer with your current employer once all interviews are passed and a formal offer is made from the prospective new employer.

If an external offer isn't made before your internal appointment, then I would not refer directly to it. Instead it would be better to discuss in abstract terms that you are being approached for positions with a much higher salary.

I would also think very carefully about whether conditions of work and job security correspond in the new position, as well as career prospects, and if you mention salaries then think carefully whether your current employer can reasonably be expected to compete with the prospective one.

If they cannot compete, then the choice is purely yours about whether to stay with a marginal employer or join a much more profitable one.

Answer 4

As one of the famous quotes say:

"Nothing someone says before the word 'but' really counts."

You said:

"I am reluctant to give up my network and current circumstances, but I don't want to sell myself short any longer."

So, the way I interpret this is very clear, but I (or anyone else, for that matter), cannot take decisions for you.

Talk to your manager in current company, see if they are willing to re-evaluate your salary based on the value you provide (please do not bring up any discussion about the specific opportunity / offer). In case they do not provide a resolution to your satisfaction, you know what to do next.