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I'm uncertain of the best way to go about negotiating some competing offers I have. My current employer is a small company that, for legal reasons, has not been able to increase salaries or pay bonuses for the past two years. Consequently, I'm now looking for other opportunities. Reading through this thread, it seems I have managed to gently caress a lot of things up so far. A synopsis: Company A - A local company with around 1000 employees has offered me a position with salary equal to my current salary plus 25%, with an indeterminate bonus. I'm uncertain of the long term financial solvency of this company. Company B - A giant corporation has offered me a local position with salary equal to my current salary plus 35%, with a 10% incentive compensation plan. I did disclose both my current salary amount and the amount of company A's offer prior to company B making their offer. Company C - A giant corporation has indicated they intend to make me an offer for a local position, but have not done so yet. They initially indicated an intention to offer around the same amount of salary as Company A (current salary plus 25%), but with an annual bonus somewhere between 5-15%. I have disclosed both my current salary and the amount of Company A's offer to them. Company D - A giant corporation headquartered in another state has asked me to visit them for interviews with a few different teams, and I agreed (prior to receiving any of the above offers). They have already purchased plane tickets, reserved a rental car, and booked a hotel room for me. This interview is scheduled to happen next week. At this time, I feel like I would enjoy working for Company D the most, but obviously I haven't spoken with them in person so I can't be certain of that, and I do not know whether they will even decide to make an offer. Also, even if they do make an offer, the cost of living in this other city is so much greater than my current city that they would need to offer significantly more than the others to compensate. I told Companies A, B and C that I had committed to an interview out of state, and that I would need some time to be able to give them an answer. The recruiter for Company C responded to that by inquiring whether there was a salary at which I would agree not to go to the out of state interview, and I told the recruiter that it would have to be a very high number, but did not give a specific amount. Here's what I'm thinking about doing: Take no action until after the interview with Company D next week. If Company D doesn't make an offer, then at that point I would attempt to get Companies B and C to bid against each other, at the conclusion of which I would accept the highest offer. On the other hand, if Company D does make an offer, I'm not sure how to handle that. Also, I'm not sure whether to inform Company D up front about the other offers and their amounts, or to inform them only about the existence of other offers, or not to inform them at all. My assumption is that it's better to inform them up front about the existence of other offers, but without disclosing the amounts.
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Mar 13, 2014 22:39
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| # ¿ Apr 28, 2024 05:19 |
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swenblack posted:With the exception of making B & C bid against each other, I agree with your course of action.
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Mar 13, 2014 22:58
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I appreciate your thoughts. Would you recommend that, in the event that Company D doesn't offer, I simply accept whichever of B and C makes the highest offer? Or, alternately, counter them both with a request for a base salary equal, say, to my current salary + 50%?
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Mar 14, 2014 00:10
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Fiedler posted:A synopsis: It's me again. Here's where things stand: Company A - I declined the offer. The other offers are too compelling to work for a company whose future is, in my view, uncertain. Company B - Growing impatient. Company C - As anticipated, offered current salary plus 25%, with annual bonus between 5-15%. Also growing impatient. Company D - Offered current salary plus 51%, signing bonus of 3.5% of current salary, signing stock award of 17.5% of current salary (vesting over 5 years), annual bonus between 10-20%, and annual stock award of between 2.5% to 11.5% of current salary (vesting over 5 years), plus cost of relocation. Since this position is not local, I have to account for an increase in cost of living. Based on online listings I could find, I anticipate the cost of housing will be 2 to 2.5 times higher in this area, but I'm not certain of the best source for information on overall cost of living differences. The sources I have found seem off. Company D is aware that I have other offers, but I have not disclosed the amounts of those offers. They are aware of my current salary. I have a strong preference for Company D, and the offer seems reasonable in comparison with the others, when adjusted for cost of living. I feel like I've won and would like to accept their offer, but I keep coming back to the thought that I should counter their offer, because the worst probable response would be having to hear the word no, right? And if I were to counter, what would be a reasonable amount? Their offered base salary plus, say, 8k?
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Mar 27, 2014 20:21
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Thanks everyone. Regarding cost of living, most cost of living calculators I've seen suggest a 20% increase. Should I assume that they're generally in the ballpark?
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Mar 27, 2014 21:51
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| # ¿ Apr 28, 2024 05:19 |
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Kalenn Istarion posted:Definitely nothing to sneeze at, but if it's your first round with D then you definitely have the option of going back and I don't think you're risking losing the offer unless they've said that it's a final offer. You can say that including cost of living increases, their offer is in-line with competing offers. If they increase by X% they will be a clear winner and you will accept; that's usually a good way to get an extra notch. In other news, Company A ended up filing Chapter 11 bankruptcy a few days ago, after I had declined their offer. I knew their financial situation was problematic, but I didn't anticipate seeing my concerns verified so quickly.
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Apr 1, 2014 15:40
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