What to do?

The new challenge sounds great, but here’s the chance to do the job you know but for more money.

It’s your decision at the end of the day, but here are some things to consider before accepting that counter offer:

• Trust – you’ve just shown that you are prepared to leave the employer in order to better your position. Will they fully trust you from now on? You’re no longer seen as the loyal employee and might just be the first to go in a staff re-organisation.
• Lack of recognition. You had to say you were leaving before the company recognised your value to them. If it took your resignation to get noticed, maybe you would be better off with a more pro-active employer who are offering you a new opportunity.
• Is it just about the money? Most people have a number of reasons for looking to move roles. Money is only one of them. If you stay and accept the pay rise, will all of the other reasons suddenly go away?
• Are you going to be overpaid? If you accept the counter offer, will you be overpaid compared to the rest of the workforce? You might find that gradually other salaries increase whilst yours stagnates as everyone else catches up. Or if you look for a move later, you can’t find a role that matches your enhanced salary, which you’ve now grown used to.

Consider what you are leaving. If the deal offered by your current organisation is markedly different from your current situation, it at least deserves consideration.

If the higher salary is the key deciding factor, you can try going back to the prospective employer and telling them about the counter offer. Your recruiter can do this for you if you are using one. In a few cases, the prospective employer has been known to review their offer. But before you do, be aware that many employers won’t get into a bidding war and would therefore either stick by their original offer, or pull out altogether.

Be warned - before you do accept that enhanced salary to stay where you are, it’s worth noting that we find most applicants who accept a counter offer are back on the job market around six months later.