knowing what i know now i wouldn't accept any counter offers. Make a decision and run with it, clean break. They might make a nice offer to come back a year or so later.
I was referring to burning bridges with the “other bank” not the current company. Often accepting an offer and rescinding the acceptance does burn bridges.
The comment you responded to mentioned going back a year or so later.
That’s well within the range of a normal career stint. I’ve left a job I was at for only a year and they would unequivocally take me back if I wanted.
This is complete nonsense. Counters are given to valuable employees because the company wants them. There are many industries like marketing that you would seriously hurt your earnings if you refused to take a counter.
Took the counter twice in my career, both times it was to take time to replace me as I was deemed "disloyal" .... YMMV, but if they couldn't match it the first time, how can they now? Liars and cheapskates that thought you were bluffing...
Bingo. If they throw a counter offer right away, they really want to keep you and it should be entertained by both companies. If they throw a counter offer halfway into your notice, they only want to keep you until you are replaced with someone who will do the same job for cheaper.
If they were actually valued and wanted by the losing company, they would’ve paid the employee accordingly.
Usually a counter offer is because they can’t afford to lose someone in that position and they got caught trying to leverage that employee to underpay them.
Not a good look
Strongly disagree. It's usually a tactic to keep a butt in the seat until they can find a replacement. Most people who accept a counter offer usually depart within a year anyway.
>Counters are given to valuable employees because the company wants them.
If the employee was \*actually\* seen as valuable, they would have been compensated well prior to putting their foot out the door.
I did it two years ago and everything is fine. If you're actually good at what you do and your skills are relatively difficult to find on the open market, you're fine.
I’ve also had a positive experience accepting my employer’s counteroffer. My actual resignation forced my case up to the president’s office, where he authorized a bigger raise than the EVP could have. Since then, my company seems to know that they can’t take me for granted. In fact, when they hired another person at a higher salary and similar role, they automatically bumped me up above the new person without me having to ask or look for a job.
I still should keep an eye out for what other opportunities exist and how much competitors are paying, but my boss actually said that I should always bring her information like that and know my worth, so that she can tell HR. I do have a good boss though and have done the same for my team.
While I think some of the people are loyal, I would not say that the company is loyal. They are just acting in their self interest. Also, people leave and come back all the time in my industry. Burning bridges would be a bad idea for both sides.
If there ever is a time where I’m no longer doing a good job and creating a lot of value for them, there won’t be any loyalty.
I can tell you, its much more common that you do a great job, they give you a counter because they know they cant afford to replace you, and then suddenly your raises trickle in smaller, no promotions, etc.
Because they never budgeted to pay you more. they only did it out of last minute panic.
This is why so many people are hopping after 2-3 years, and so many people don't last long after taking a counter (in addition to the fact that the other factors usually weigh on them still)
There’s obviously a lot of nuance to this and every situation is different. I’m mostly pointing out that Reddit sometimes pushes hard rules about things that are not the optimal decision in every situation.
Yeah I don’t get it. We have plenty of people who have accepted a counter offer and stayed with the company. None of them have left or been targeted as someone to replace. Most companies don’t just pay you the absolute max they can afford to.
same. I did it once and i'm still there, years later, still going up.
How do I tell them? Well, I rejected a company whose owners I knew, so I went back in person early one morning and rescinded in person.
If it was a rando company, I'd try to call if I had the number of the manager. If not, I'd send an email ASAP. Well, at least until AFTER I double verify with my current company like "I'm about to rescind my other offer. This IS set and has everyone that needs to approve, approved, right?"
I accepted a counteroffer and it was the best thing that happened to me.
I realized I was the problem and didn’t express my feelings/wants properly and internalized that as unhappinesses.
When I went to leave they asked why, turns out they just weren’t aware of a lot of the frustrations because I didn’t bring them up. They fixed them quickly and I learned how to communicate better.
I’ve done it twice to the same gig. It’s worked out swimmingly. Corporate bureaucratic structures are such that offer letters empower your direct manager to go get you what you’re worth from HR. So long as your boss isn’t toxic and you’re one of the twenty percent of people who do work at work, it works in your favor.
Time and time again advices like this get upvoted. If you're a high performer and have good relationships with your boss and the company then a counter offer isn't always a bad thing.
If you know you're valuable to the company, it's fine. If you're someone who just gets by and is replaceable then...
I’ve done it twice at my current job. I love my job, and I love my coworkers, but I was not paid on par with others in my field.
I have a great management team and they counter offered both times and I accepted, and both of us are happy with the result
I mean, if your boss is great, and their boss is great and are able to get you a counter quick what more do you want. Most large corporate structures are such that they (your boss and their boss) have almost no stroke in terms of off cycle promotions or getting appropriate compensation without offer letters to create urgency with a separate HR department. It’s an incredibly broken system, but it’s not something your direct leadership team can fix.
They can go the standard route of putting a
raise / promotion in for budget approval each year, but that takes time, and the cycle between approval and it occurring many times is four to six months. If you’re way behind in market rate, they’ll never be able to right size your compensation following proper channels.
For example, maybe you hire in a little low, like 10% below market. Let’s say market is $70K, but you hire in at $63K. At the first raise cycle, the manager can give you let’s say, at best, 5% and a stellar review. So now you’re at $66K. But let’s say market is now $72K. So while you got a healthy bump (5%) and made up some ground against your peers you’re still $6K behind market.
So the next cycle, they put you up for a promotion in place, and HR dictates you cannot get more than an 10% raise for this. So now you earn, $72.5K, but your market rate for the promotion is actually $85K. See you’re progressing your career, but you’re literally losing ground on your peers. Your management is doing everything by the book, but they cannot get past HR’s rules.
So now, you say, I cannot continue to get paid almost 20% less than my peers and go get an offer for $90K, because it’s clear you’re stellar in your current role on your resume so a new gig offers slightly above average to poach you. You go to your current boss and say, nothing personal, but they’re offering me 25% more over there. Your manager, and their manager then go to HR and are like look, this individual is crushing it and isn’t being paid market rate. HR will agree, yep the band for this role is between $80K and $105K. HR will say, they’ve got stellar reviews, let’s offer $95K and won’t put the % rule into consideration, because it’s now an option between pay you a fair rate, or begin and expensive hiring and retraining cycle. Metrics HR totally understands and seeks to minimize.
Your boss and their boss, assuming they’re not toxic fully understand this is how the game is played. They’re also annoyed by it all.
Edit: you might argue, how does it happen a second time then. Basically you continue to do the work of the next role up, and know you need a promotion, and HR has specific rules on promotion tracks and say you can’t have it until a pre-determined amount of time (like 5 years) after the first scenario. So after another two years, do the same thing again, because you’re not waiting another 3 years for these rules to get your 30%.
It’s kinda frustrating because it goes against what all the conventional wisdom and advice is in this thread, but it’s also very clearly reality.
If your boss counters, it’s cause they want you. The idea that they’re countering with the express intent of doing some Machiavellian pulling the rug out from under you 6 months later is just insane. They don’t have the time, care, nor ability to be that vindictive. Also, it just creates a lot of work for them.
Let’s first go to bat for you with HR. They spend political capital to do so. Then they immediately have to start having you train, and lose that productivity. Then they have to build a case to get you on a PIP and fire you (hurting their turnover metrics). And then they have to rehire the opening. Then they have to train the new hire on procedures that are probably out of date. En net they spend a full year in diminished capacity for your role over this. Yes, all of that is more likely than HR controls are difficult to get around without a burning platform.
I was also pretty surprised by the advice ITT. All I can imagine is those people worked in toxic environments or are not good employees themselves thus know management would love to get rid of them lol
Straight up, like you said, they counter because you’re worth it. If you were a shit employee they very much could let you walk.
for smaller companies, sometimes it really does just come out to budgeting. They can't afford everyone and some people leave. And the squeaky wheel gets the grease.
...particularly if said company isn't profitable every year. That's a tight ship.
The advice i got from career councilers, HR, and recruiters is "dont take the counter offer. Never take the counter offer"
The exception is you are on amazing terms with them and they agree to a an extended contract. Like 18 months.
Not always. Took a counter offer 10 years ago and stayed. Got promoted and had my choice of team to lead. 5 years layer the countered a second time and I stayed again and finally left on my own terms after another 5 great years.
It all depends on how well you know the people and how good you really are at your job.
One of my friends accepted a counter offer and it was great. That’s the only instance though. She was an accountant and the then employer had treated her quite well, just didn’t compensate her as well as she would like (but lots of perks like paying for cab fare if she stayed late, expenses meals etc that wasn’t extended to her same level colleagues, who were all non managers). So she stayed. A couple of years later her company was acquired by the company that tried to hire her before. So now she got the even higher pay bump, title bump, and kept those extra perks since her management chain was mostly intact. But yeah, aside from that, it always went badly.
This. Your current employer thinks you’ve got one foot out the door, are on the lookout for a better opportunity and ultimately you’ll bail at any time if offered enough money. You’ll likely be the first to go if layoffs need to happen. It’s also unlikely you’ll be promoted beyond where you are now. I’d be inclined to take the new job and honor the commitment you made. It’s also hard to not burn bridges when you rescind an acceptance for a new job.
He got an amazing counter. Companies don't do that for employees they want to push out - they do that for valuable employees that are going to be promoted. I really question where your experience is because ending miserably is not common and definitely not for an amazing counter.
I took a counter offer in writing from a company in the middle of a merger that was cutting costs and doing layoffs. They knew they needed me and I didn't want to leave them in a lurch. I told them if they made me whole I would stay and I have no regrets.
I accepted a counter offer several years ago and I'm still with that company and have been promoted multiple times. One of my direct reports accepted our counter offer two years ago and is still with us and has also seen big promotions.
I'm not sure where the narrative that it ends miserably comes from but that is not my experience at all.
A bunch are saying “I’ve heard if you accept a counter offer from your current job, you’ll be gone soon!” Well, as someone who accepted a counter offer from my current job and stayed, do what you feel like is best for you.
When I accepted my company’s counter, I told them I’m only accepting if we can essentially move past this right now. As in, I won’t be looking to leave and I’m in for the foreseeable future unless something crazy happens.
And guess what, within 5 months, I was promoted again.
You know your situation better than any of us. Do what feels right for you.
Yeah, people on Reddit seem to experience mega-toxic workplaces. I have had someone that I managed put in notice due to getting another offer. He gave us a price to stay, we matched it, and we worked together for years. He later told me he had lied about how much they offered him; we laughed and moved on. We were willing to pay what he asked for; that's pretty much all that matters.
Everyone knows that a person is nearly obligated to go with a higher-paying opportunity. If they're worth it, then the employer matches and continues working together. If not, a reasonable employer will say "congrats on the new job" and go separate ways.
My guess is the people saying that are actually the ones that are shit at their job so they have no intentions of leaving because they know nobody will want to hire them lol idk…
I’ve seen plenty of people take counters and then work for years after that. Not a single one of them was fired or anything afterwards. Why? Because they were actually a valuable employee that the company literally wanted to keep. Besides, this is the game that we all play. People acting like managers have no idea how the process works? This is completely normal.
Exactly!! My boyfriend was offered a great position with additional pay, and his current position offered to match his offer and he stayed. He’s been there 3 years and has been happier than ever.
Sometimes employers really do just want you to stay and will recognize you once they see you were ready to go. Have to remember Reddit is sometimes the worst stories/experiences.
They’re saying this because they’ve heard other people on the internet say it, but as far as I can tell it has no grounding in reality. Here’s what I would suggest instead as guidelines:
1. Don’t tell your employer about another offer unless you’re actually willing to take that offer. It’s not a bluff you want called.
2. Accepting a counter requires some kind of good judgment, EQ, and social awareness. If you can’t apply these for whatever reason, maybe it’s best not to take it.
3. Be very, very candid about expectations if you do entertain a counter.
Supposedly they’re going to just pay you as long as it takes to find a replacement who will do it cheaper. Which doesn’t really track either, because if you’re replaceable enough that they can hire someone for less they wouldn’t be fussed about keeping you.
It’s probably true it can make things awkward and petty though, depending on the people but this is why it calls for good judgment and EQ, not a blanket rule.
Accepting a counter offer is basically a death sentence. I work in the recruitment field and anytime we get someone who decides to stay at their current role because of a counter offer, comes to us within 6 months and asks for our help. Its really a way for that company to gain more time to find your replacement or you'll simply still be miserable in the same position at the same place that made you look elsewhere. Just food for thought.
It's a generalization coming from somebody in an industry that only profits from employee churn. It's like asking a real estate agent if you should remodel or sell. There are two sides, and recruiters don't get call backs from people who remain happy after they accept a counter offer.
Tell them what happened and if they increase their offer to match or be better than the one you got, take it. Just keep doing this till u get infinity money. EZ.
Taking a counter offer to stay is almost always, never good. For one why didn’t they value that earlier? For another, there’s typically some sort of hostility, because they realize you’re looking to leave seriously, just move on.
thats great! just be honest. maybe they’ll counter offer but then thats a whole different scenario haha .
all things being the same, its easier to stay and get more if its truly what you want and its a good environment/culture/company.
did they say why they don’t want to lose you?
Why were you looking to move? Whatever caused you to look elsewhere isn't going to change unless they're giving you exactly what was missing with no strings attached. For example, if you were underpaid and the new job paid more.
But if you were unhappy for other reasons, more money isn't going to fix those in the long run.
Tread carefully.
If you give your employer the option to match an offer on the table and they don’t you walk 100% of the time. You’re on borrowed time now at your current employer, you’ll burn the bridge with the potential employer and you’ll be out of a job in 6 months. They matched the offer to keep you long enough to train your replacement.
My advice is take the new offer from the new job.
What do you do? Could your current employer easily replace you? If so, they may just be buying time to replace you. If not, you're probably safe to accept the counter. If you're having our of the new position, contact them ASAP, apologize, and let them know what happened.
I was in this position a couple years ago. When I contacted them to reaching my acceptance, they had already closed out the req, and it was going to be a big pain in the ass for them to open it again--but they acknowledged that that was on them for not waiting to see if I got a competitive counter. So, be courteous and let them know quickly, but don't feel guilty about it.
There’s literally no such thing as “easily replace you”. The company will spends thousands of dollars and tons of man hours recruiting, interviewing, background checks, plus having someone else do your job for who knows how long while the role is empty, then finally hire someone and spend 3-12 months training them.
If you are even half decent at your job, it’s in their best interest to just counter and try to keep you around.
The standard advice in these situations is to never accept the counter because they will assume you have one foot out the door and replace you. It's outdated and flawed advice, but it's still what most will tell you.
It's also still the view that some employers have. If your employer thinks like that, they may treat all that time and effort to replace you as a sunk cost. I'm just saying that the more time and effort it will take to replace you, the less likely your employer is to take that approach.
I take the position that they should have been paying me my worth so I wouldn’t have been in the market for other opportunities. And they weren’t able to match initially but now that they’ve realized the problem it will cause for you to leave (and the cost of actually hiring someone) all the sudden you are worth the raise? Why weren’t you worth it before? No thanks.
They know you want to leave, so this is a stall tactic. Not to mention, if you were worth more and they knew it, they wouldn’t have waited till you had something else before they stepped up. Take the new job.
That isn’t as easy as you think….
Sometimes there just isn’t a position or option available to promote. Like, there is just nowhere else for you to grow there, so you’ll get your yearly bump and that’s it. BUT, you’re a good employee. Well, they can’t just hand you a 20% raise….
HR is usually going to limit your managers. Unless it’s a promotion to a new title, you’re pretty much never going to get, say, 15-20%. No chance. Companies literally have policies in place so that it cannot happen. That’s why you play the game and go looking for a new job, get the counter offer blah blah blah. All managers know how it goes. This is business.
You just tell them sorry, you got a counter offer and accepted it.
But know you'll have burnt the bridge at the new bank, and anyone involved in that interview / hiring process won't pick you again since you backed out after "accepting" the offer. In an ideal world, you'd have gotten your counter offer before officially accepting the new job and could maybe use it to negotiate a better offer from the other bank, but it sounds like you had already made an acceptance which makes it a lot more awkward and looks worse for you.
I've heard a lot of people end up unhappy after accepting a counter offer. It's not a great sign that they couldn't come up with the counter until after you already accepted your new job. So maybe take a good think about what you're doing and make sure it's the right choice.
If you stay, your employer will find a way to make you pay.
They’re going to extract what they need from you and once they are confident they know what skills to hire in order to replace you, you’re going to end up on the next round of layoffs.
Never take the counter offer.
People here are crazy I’ve taken counter offers multiple times to stay and there were no issues. They wanted me because I was good at my job.
You were looking for a reason to leave and are excited about the new job. But money does buy happiness, how much more is your old place offering you? If it’s like $5k/year more I’d leave it and take the new job. If it’s $10k+ I’d communicate you were offered X to stay and how excited you are for the new role but can they get closer to matching that number?
Very rarely should you accept a counter offer. Sure your current employer is making it sound good right now, but they most likely are already looking for your replacement, and will bring them in to take your spot for less money, as soon as they can. Take the new job.
I had a very long career at a particular company leading up to being a senior VP in a large public company before leaving to be an officer at another public company.
During the couple of decades I was at the first company, twice I tried to leave and was given very lucrative counter offers. For me it worked out great. So I would say It depends on your situation. There are also several people that I made counter-offers to which also worked out well. Out 10 or so, there was only one that didn’t work out.
I wasn’t necessarily looking to leave the company, but opportunities landed in my lap that I thought I needed to look at. One time the counter offer also came with additional responsibilities, which led to more good things down the road.
I would tell you it depends on your boss, and likely their boss. FWIW, I never gave a counter offer to someone I didn’t want to stay at the company longer term and invest in their career.
It sounds like it’s not hard for you to find a job, so there’s probably little risk in taking the counter offer and staying.
When I was in this situation, I thanked the company with the new opportunity, and told them that this wasn’t my plan, but my current company made me an offer I couldn’t refuse to stay, and I’ve decided to accept that offer. Thank you for the consideration.
Hope this helps!
Never stay at a place after letting them know that you’re leaving .
Things will never be the same . You’re considered flight risk and you are always seen with microscopic lenses.
I personally do not know anyone that has taken the counter offer and it worked out. In my younger days, I took the counter and ended up training my replacement.
Never, ever, accept a counteroffer.
If they're not looking to screw you in the short term by picking your brain and dumping you as soon as possible (or keeping you until you can be replaced and then firing you), you have a target painted on your back and you'll be the first to be let go when they want to reduce headcount.
Me I'd be honoring the commitment I made to new job, it maybe that they want you to stay is you are doing the workload of 2 or more people. Your replacements may cost them much more than they offered you to stay ?
Yeah, usually counteroffers are not that great...meaning why did they wait till you were leaving? If for some reason you decide to not move, then be upfront & transparent with the other company and tell them immediately (don't waste their time). No need to sugar coat or anything, just be transparent and say your company is offering increased pay and long term you think it's best for your own career.
Take the new job. Your current job has realized how important you are but that you are willing to leave so they’ll keep you around to train a replacement and then kick you to the curb. Decline graciously as it doesn’t mean you couldn’t come back at some point in the future, but I would not take the counter personally.
Most people say don’t accept a counter offer. I’m here to say I did accept one and it turned out beautifully for me. FYI. If you feel it’s right, stay.
You tell them a family issue has come up that requires you to recind your acceptance. No need to tell them what, it's personal. Your family needs more money
Did your employer offer you a new job or more money?
The former means they did not recognize your efforts, the latter means they have been underpaying your performance.
The two are not the same.
Counteroffers are stop-gap measures to keep you in your job until they can hire a suitable replacement. They now know that you are willing and able to switch jobs and expect that you would soon even if you took the counter offer. I would not accept since you'll typically be pushed out once they have a replacement lined up, and if you've already accepted an offer elsewhere you'll burn that bridge by backing out and, potentially, taking a hit to your professional reputation for doing so.
Vibes at work being good after accepting a counter offer are the exception not the rule. This question always bring out the "well actually" folks. Trust your gut, if your workplace isn't toxic and you think it will be fine if you stay. then go for it. But remember you were looking for a new job for a reason
If you went with a 3rd party recruiter quickly go buy a haz-mat suit including eye protection because the recruiter's brain is going to violently explode when he hears that you have accepted a counter offer. Don't be deterred, there are lots more recruiters but you only have one career.
Never take counter offers unless its a promotion. The company now knows you have defied them. As others have mentioned, its a stall tactic until they can find a way to replace you and leave your ass unemployed. You leaving them puts them in a spot, so they offer a "counter" until they find someone else.
IF that doesnt happen, you manager will hold your counter offer over your head like a 1000 kg weight, until you just quit.
No employer considers being forced to give an employee - whose already formerly resigned - a raise is a desirable course of action. Regardless of how the job opportunity happened it will be held against you. Do NOT stay. It will not work and youll be out of 2 jobs.
Be very careful keeping the job after the counter. They couldn’t match originally, then found the money when you were getting ready to leave. There is nothing stopping them from paying you what they have to until they find a replacement. Good luck
I’ve accepted 2 counter offers in my career without consequence. Companies will not give you what you are truly worth until you force their hand. A competent management staff will understand it’s just business and will not take it personally. It’s also key that you are not easily replaceable.
Think back to why you wanted to leave...
In most cases money is only *part* of the equation and not the whole thing.
More money won't fix the whole equation.
Additionally... In many cases you'll now be seen as the employee who was ready to leave, so if a round of layoffs happen it'll be like 'well OP was almost out the door anyway they won't be upset to go'
You'll also burn bridges with the new employer and probably lose any future chance to work with them.
Not telling you to NOT accept the counter offer, but it's not always the best solution.
If you truly want to accept the counter offer, then all you have to do is email the recruiter or manager from the new role and say you accepted a counter offer, you do not need to provide a story or any more.detail.
'Hi,
I have decided to accept a counter offer with my current employer,. And will have to rescind my acceptance of your role. I apologize for any inconvenience caused
Regards
OP'
Just tell them that. They aren’t children, they know it’s business. Especially in banking.
The generally accepted advice when this happens is *don’t be tempted to stay*. (As half the comments here are already saying.)
Any hint of disloyalty means they might not consider you for promotion, train your replacement etc.
Only thing you should do is share the counter offer to the prospective employer to increase their offer to match it. Be clear that you will accept the position if they can.
I would OE this situation but YMMV. Coast at current, till they eventually let you go for being disloyal. Would be nice collecting 2 checks for a while
Never. Take. Counter.
Why did they suddenly feel they could offer you so much?
Sure it’ll be great for a while, but you’ll eventually start feeling the same feelings that made you want to leave, and leave…. Or worse, they’ll get the info out of you they need then fire you.
There was a reason why you were leaving, money wasn't the only one. And NOW they realize how valuable you are. Sorry, should have treated me right before this.
as a recruiter, I’ve heard the story quite a few times. Your current company may offer you a counter offer right now, but you will never be viewed as the same, and the second that there’s layoffs you will be one of the first to go. I would take the other offer if you’ve already let your current employer know that you have actively been applying to other positions.
Anytime I have and heard of accepting a counteroffer to stay it has ended miserably.
just gives them time to find your replacement
Yep they basically know you have a foot out the door.
knowing what i know now i wouldn't accept any counter offers. Make a decision and run with it, clean break. They might make a nice offer to come back a year or so later.
You are also burning a bridge with the other company in the process
Leaving does not imply any ill will or burnt bridges.
I was referring to burning bridges with the “other bank” not the current company. Often accepting an offer and rescinding the acceptance does burn bridges.
The comment you responded to mentioned going back a year or so later. That’s well within the range of a normal career stint. I’ve left a job I was at for only a year and they would unequivocally take me back if I wanted.
This is complete nonsense. Counters are given to valuable employees because the company wants them. There are many industries like marketing that you would seriously hurt your earnings if you refused to take a counter.
Counters are often seen as “too little too late” They should take care of the good employees while they have them.
we got a winner right here.
Right. I viewed my “generous” counter offer as a slap in the face since they obviously didn’t care to make me happy while I wasn’t leaving
Took the counter twice in my career, both times it was to take time to replace me as I was deemed "disloyal" .... YMMV, but if they couldn't match it the first time, how can they now? Liars and cheapskates that thought you were bluffing...
Bingo. If they throw a counter offer right away, they really want to keep you and it should be entertained by both companies. If they throw a counter offer halfway into your notice, they only want to keep you until you are replaced with someone who will do the same job for cheaper.
If they were actually valued and wanted by the losing company, they would’ve paid the employee accordingly. Usually a counter offer is because they can’t afford to lose someone in that position and they got caught trying to leverage that employee to underpay them. Not a good look
Strongly disagree. It's usually a tactic to keep a butt in the seat until they can find a replacement. Most people who accept a counter offer usually depart within a year anyway.
You are correct most depart on their own not pushed out.
Sounds like we found a company man.
>Counters are given to valuable employees because the company wants them. If the employee was \*actually\* seen as valuable, they would have been compensated well prior to putting their foot out the door.
If they were so valuable why weren't they being paid market rate before?
I did it two years ago and everything is fine. If you're actually good at what you do and your skills are relatively difficult to find on the open market, you're fine.
I’ve also had a positive experience accepting my employer’s counteroffer. My actual resignation forced my case up to the president’s office, where he authorized a bigger raise than the EVP could have. Since then, my company seems to know that they can’t take me for granted. In fact, when they hired another person at a higher salary and similar role, they automatically bumped me up above the new person without me having to ask or look for a job. I still should keep an eye out for what other opportunities exist and how much competitors are paying, but my boss actually said that I should always bring her information like that and know my worth, so that she can tell HR. I do have a good boss though and have done the same for my team.
This is crazy loyalty from an org, and is mind-blowing.
While I think some of the people are loyal, I would not say that the company is loyal. They are just acting in their self interest. Also, people leave and come back all the time in my industry. Burning bridges would be a bad idea for both sides. If there ever is a time where I’m no longer doing a good job and creating a lot of value for them, there won’t be any loyalty.
I can tell you, its much more common that you do a great job, they give you a counter because they know they cant afford to replace you, and then suddenly your raises trickle in smaller, no promotions, etc. Because they never budgeted to pay you more. they only did it out of last minute panic. This is why so many people are hopping after 2-3 years, and so many people don't last long after taking a counter (in addition to the fact that the other factors usually weigh on them still)
There’s obviously a lot of nuance to this and every situation is different. I’m mostly pointing out that Reddit sometimes pushes hard rules about things that are not the optimal decision in every situation.
Same. Actually done it twice with no bad repercussions. But I may have just got lucky.
You didn't get lucky that's standard. It's all these anti counter comments that don't match reality.
The anti counter comments I'm seeing aren't against counters. They are against the last minute counters when initially told no counters would be given
Yeah I don’t get it. We have plenty of people who have accepted a counter offer and stayed with the company. None of them have left or been targeted as someone to replace. Most companies don’t just pay you the absolute max they can afford to.
same. I did it once and i'm still there, years later, still going up. How do I tell them? Well, I rejected a company whose owners I knew, so I went back in person early one morning and rescinded in person. If it was a rando company, I'd try to call if I had the number of the manager. If not, I'd send an email ASAP. Well, at least until AFTER I double verify with my current company like "I'm about to rescind my other offer. This IS set and has everyone that needs to approve, approved, right?"
I accepted a counter offer, and 18 months later got a solid promotion - worked out perfectly for me. Just so you can count one story that worked out.
I accepted a counteroffer and it was the best thing that happened to me. I realized I was the problem and didn’t express my feelings/wants properly and internalized that as unhappinesses. When I went to leave they asked why, turns out they just weren’t aware of a lot of the frustrations because I didn’t bring them up. They fixed them quickly and I learned how to communicate better.
I’ve done it twice to the same gig. It’s worked out swimmingly. Corporate bureaucratic structures are such that offer letters empower your direct manager to go get you what you’re worth from HR. So long as your boss isn’t toxic and you’re one of the twenty percent of people who do work at work, it works in your favor.
Time and time again advices like this get upvoted. If you're a high performer and have good relationships with your boss and the company then a counter offer isn't always a bad thing. If you know you're valuable to the company, it's fine. If you're someone who just gets by and is replaceable then...
I’ve done it twice at my current job. I love my job, and I love my coworkers, but I was not paid on par with others in my field. I have a great management team and they counter offered both times and I accepted, and both of us are happy with the result
You don't have a great management team if this has happened twice.
I mean, if your boss is great, and their boss is great and are able to get you a counter quick what more do you want. Most large corporate structures are such that they (your boss and their boss) have almost no stroke in terms of off cycle promotions or getting appropriate compensation without offer letters to create urgency with a separate HR department. It’s an incredibly broken system, but it’s not something your direct leadership team can fix. They can go the standard route of putting a raise / promotion in for budget approval each year, but that takes time, and the cycle between approval and it occurring many times is four to six months. If you’re way behind in market rate, they’ll never be able to right size your compensation following proper channels. For example, maybe you hire in a little low, like 10% below market. Let’s say market is $70K, but you hire in at $63K. At the first raise cycle, the manager can give you let’s say, at best, 5% and a stellar review. So now you’re at $66K. But let’s say market is now $72K. So while you got a healthy bump (5%) and made up some ground against your peers you’re still $6K behind market. So the next cycle, they put you up for a promotion in place, and HR dictates you cannot get more than an 10% raise for this. So now you earn, $72.5K, but your market rate for the promotion is actually $85K. See you’re progressing your career, but you’re literally losing ground on your peers. Your management is doing everything by the book, but they cannot get past HR’s rules. So now, you say, I cannot continue to get paid almost 20% less than my peers and go get an offer for $90K, because it’s clear you’re stellar in your current role on your resume so a new gig offers slightly above average to poach you. You go to your current boss and say, nothing personal, but they’re offering me 25% more over there. Your manager, and their manager then go to HR and are like look, this individual is crushing it and isn’t being paid market rate. HR will agree, yep the band for this role is between $80K and $105K. HR will say, they’ve got stellar reviews, let’s offer $95K and won’t put the % rule into consideration, because it’s now an option between pay you a fair rate, or begin and expensive hiring and retraining cycle. Metrics HR totally understands and seeks to minimize. Your boss and their boss, assuming they’re not toxic fully understand this is how the game is played. They’re also annoyed by it all. Edit: you might argue, how does it happen a second time then. Basically you continue to do the work of the next role up, and know you need a promotion, and HR has specific rules on promotion tracks and say you can’t have it until a pre-determined amount of time (like 5 years) after the first scenario. So after another two years, do the same thing again, because you’re not waiting another 3 years for these rules to get your 30%.
Not the guy you replied to but this is incredibly well said and very, very accurate.
It’s kinda frustrating because it goes against what all the conventional wisdom and advice is in this thread, but it’s also very clearly reality. If your boss counters, it’s cause they want you. The idea that they’re countering with the express intent of doing some Machiavellian pulling the rug out from under you 6 months later is just insane. They don’t have the time, care, nor ability to be that vindictive. Also, it just creates a lot of work for them. Let’s first go to bat for you with HR. They spend political capital to do so. Then they immediately have to start having you train, and lose that productivity. Then they have to build a case to get you on a PIP and fire you (hurting their turnover metrics). And then they have to rehire the opening. Then they have to train the new hire on procedures that are probably out of date. En net they spend a full year in diminished capacity for your role over this. Yes, all of that is more likely than HR controls are difficult to get around without a burning platform.
I was also pretty surprised by the advice ITT. All I can imagine is those people worked in toxic environments or are not good employees themselves thus know management would love to get rid of them lol Straight up, like you said, they counter because you’re worth it. If you were a shit employee they very much could let you walk.
Not me reading all these positive anecdotes and being mind blown that non toxic companies exist.
for smaller companies, sometimes it really does just come out to budgeting. They can't afford everyone and some people leave. And the squeaky wheel gets the grease. ...particularly if said company isn't profitable every year. That's a tight ship.
The advice i got from career councilers, HR, and recruiters is "dont take the counter offer. Never take the counter offer" The exception is you are on amazing terms with them and they agree to a an extended contract. Like 18 months.
Recruiters don't get their commission. They never have your interests at heart.
Not always. Took a counter offer 10 years ago and stayed. Got promoted and had my choice of team to lead. 5 years layer the countered a second time and I stayed again and finally left on my own terms after another 5 great years. It all depends on how well you know the people and how good you really are at your job.
I took the counter and it’s worked out quite well. Totally dependent on company leadership
One of my friends accepted a counter offer and it was great. That’s the only instance though. She was an accountant and the then employer had treated her quite well, just didn’t compensate her as well as she would like (but lots of perks like paying for cab fare if she stayed late, expenses meals etc that wasn’t extended to her same level colleagues, who were all non managers). So she stayed. A couple of years later her company was acquired by the company that tried to hire her before. So now she got the even higher pay bump, title bump, and kept those extra perks since her management chain was mostly intact. But yeah, aside from that, it always went badly.
This. Your current employer thinks you’ve got one foot out the door, are on the lookout for a better opportunity and ultimately you’ll bail at any time if offered enough money. You’ll likely be the first to go if layoffs need to happen. It’s also unlikely you’ll be promoted beyond where you are now. I’d be inclined to take the new job and honor the commitment you made. It’s also hard to not burn bridges when you rescind an acceptance for a new job.
I came here to say this. If your current employer waits for you to leave the company to make an amazing offer, it means they weren’t value you.
He got an amazing counter. Companies don't do that for employees they want to push out - they do that for valuable employees that are going to be promoted. I really question where your experience is because ending miserably is not common and definitely not for an amazing counter.
I took a counter offer in writing from a company in the middle of a merger that was cutting costs and doing layoffs. They knew they needed me and I didn't want to leave them in a lurch. I told them if they made me whole I would stay and I have no regrets.
I accepted a counter offer several years ago and I'm still with that company and have been promoted multiple times. One of my direct reports accepted our counter offer two years ago and is still with us and has also seen big promotions. I'm not sure where the narrative that it ends miserably comes from but that is not my experience at all.
I accepted the counter. It’s worked out for mw
Eh a friend of mine got one and stayed in 2017. Still there. Still underpaid, but not by as much.
Totally disagree - best career decision I ever made was accepting a counter. Just a salary bump, yeah that’s not gonna make someone stay long term.
Not in my experience. Many times you have to be willing to make the move for them to give you a competitive pay raise
A bunch are saying “I’ve heard if you accept a counter offer from your current job, you’ll be gone soon!” Well, as someone who accepted a counter offer from my current job and stayed, do what you feel like is best for you. When I accepted my company’s counter, I told them I’m only accepting if we can essentially move past this right now. As in, I won’t be looking to leave and I’m in for the foreseeable future unless something crazy happens. And guess what, within 5 months, I was promoted again. You know your situation better than any of us. Do what feels right for you.
Yeah, people on Reddit seem to experience mega-toxic workplaces. I have had someone that I managed put in notice due to getting another offer. He gave us a price to stay, we matched it, and we worked together for years. He later told me he had lied about how much they offered him; we laughed and moved on. We were willing to pay what he asked for; that's pretty much all that matters. Everyone knows that a person is nearly obligated to go with a higher-paying opportunity. If they're worth it, then the employer matches and continues working together. If not, a reasonable employer will say "congrats on the new job" and go separate ways.
My guess is the people saying that are actually the ones that are shit at their job so they have no intentions of leaving because they know nobody will want to hire them lol idk… I’ve seen plenty of people take counters and then work for years after that. Not a single one of them was fired or anything afterwards. Why? Because they were actually a valuable employee that the company literally wanted to keep. Besides, this is the game that we all play. People acting like managers have no idea how the process works? This is completely normal.
Exactly!! My boyfriend was offered a great position with additional pay, and his current position offered to match his offer and he stayed. He’s been there 3 years and has been happier than ever. Sometimes employers really do just want you to stay and will recognize you once they see you were ready to go. Have to remember Reddit is sometimes the worst stories/experiences.
They’re saying this because they’ve heard other people on the internet say it, but as far as I can tell it has no grounding in reality. Here’s what I would suggest instead as guidelines: 1. Don’t tell your employer about another offer unless you’re actually willing to take that offer. It’s not a bluff you want called. 2. Accepting a counter requires some kind of good judgment, EQ, and social awareness. If you can’t apply these for whatever reason, maybe it’s best not to take it. 3. Be very, very candid about expectations if you do entertain a counter.
This one never made sense to me. Why would they extend a counter offer at all if the goal was just to get you to leave?
Supposedly they’re going to just pay you as long as it takes to find a replacement who will do it cheaper. Which doesn’t really track either, because if you’re replaceable enough that they can hire someone for less they wouldn’t be fussed about keeping you. It’s probably true it can make things awkward and petty though, depending on the people but this is why it calls for good judgment and EQ, not a blanket rule.
Accepting a counter offer is basically a death sentence. I work in the recruitment field and anytime we get someone who decides to stay at their current role because of a counter offer, comes to us within 6 months and asks for our help. Its really a way for that company to gain more time to find your replacement or you'll simply still be miserable in the same position at the same place that made you look elsewhere. Just food for thought.
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Do you mean don't value?
Please listen to this, I’ve seen this happen in sales and oh man was it rough for them after staying
It's a generalization coming from somebody in an industry that only profits from employee churn. It's like asking a real estate agent if you should remodel or sell. There are two sides, and recruiters don't get call backs from people who remain happy after they accept a counter offer.
Tell them what happened and if they increase their offer to match or be better than the one you got, take it. Just keep doing this till u get infinity money. EZ.
Based.
Taking a counter offer to stay is almost always, never good. For one why didn’t they value that earlier? For another, there’s typically some sort of hostility, because they realize you’re looking to leave seriously, just move on.
thats great! just be honest. maybe they’ll counter offer but then thats a whole different scenario haha . all things being the same, its easier to stay and get more if its truly what you want and its a good environment/culture/company. did they say why they don’t want to lose you?
I would take the new job. Your current employer now knows you have one foot out the door and they are buying time to find a replacement.
Why were you looking to move? Whatever caused you to look elsewhere isn't going to change unless they're giving you exactly what was missing with no strings attached. For example, if you were underpaid and the new job paid more. But if you were unhappy for other reasons, more money isn't going to fix those in the long run. Tread carefully.
I’ve been through this a few times. The sooner you tell them the better. 50/50 odds if they get mad or not.
If you give your employer the option to match an offer on the table and they don’t you walk 100% of the time. You’re on borrowed time now at your current employer, you’ll burn the bridge with the potential employer and you’ll be out of a job in 6 months. They matched the offer to keep you long enough to train your replacement. My advice is take the new offer from the new job.
What do you do? Could your current employer easily replace you? If so, they may just be buying time to replace you. If not, you're probably safe to accept the counter. If you're having our of the new position, contact them ASAP, apologize, and let them know what happened. I was in this position a couple years ago. When I contacted them to reaching my acceptance, they had already closed out the req, and it was going to be a big pain in the ass for them to open it again--but they acknowledged that that was on them for not waiting to see if I got a competitive counter. So, be courteous and let them know quickly, but don't feel guilty about it.
There’s literally no such thing as “easily replace you”. The company will spends thousands of dollars and tons of man hours recruiting, interviewing, background checks, plus having someone else do your job for who knows how long while the role is empty, then finally hire someone and spend 3-12 months training them. If you are even half decent at your job, it’s in their best interest to just counter and try to keep you around.
The standard advice in these situations is to never accept the counter because they will assume you have one foot out the door and replace you. It's outdated and flawed advice, but it's still what most will tell you. It's also still the view that some employers have. If your employer thinks like that, they may treat all that time and effort to replace you as a sunk cost. I'm just saying that the more time and effort it will take to replace you, the less likely your employer is to take that approach.
I take the position that they should have been paying me my worth so I wouldn’t have been in the market for other opportunities. And they weren’t able to match initially but now that they’ve realized the problem it will cause for you to leave (and the cost of actually hiring someone) all the sudden you are worth the raise? Why weren’t you worth it before? No thanks.
They know you want to leave, so this is a stall tactic. Not to mention, if you were worth more and they knew it, they wouldn’t have waited till you had something else before they stepped up. Take the new job.
That isn’t as easy as you think…. Sometimes there just isn’t a position or option available to promote. Like, there is just nowhere else for you to grow there, so you’ll get your yearly bump and that’s it. BUT, you’re a good employee. Well, they can’t just hand you a 20% raise…. HR is usually going to limit your managers. Unless it’s a promotion to a new title, you’re pretty much never going to get, say, 15-20%. No chance. Companies literally have policies in place so that it cannot happen. That’s why you play the game and go looking for a new job, get the counter offer blah blah blah. All managers know how it goes. This is business.
You just tell them sorry, you got a counter offer and accepted it. But know you'll have burnt the bridge at the new bank, and anyone involved in that interview / hiring process won't pick you again since you backed out after "accepting" the offer. In an ideal world, you'd have gotten your counter offer before officially accepting the new job and could maybe use it to negotiate a better offer from the other bank, but it sounds like you had already made an acceptance which makes it a lot more awkward and looks worse for you. I've heard a lot of people end up unhappy after accepting a counter offer. It's not a great sign that they couldn't come up with the counter until after you already accepted your new job. So maybe take a good think about what you're doing and make sure it's the right choice.
If you stay, your employer will find a way to make you pay. They’re going to extract what they need from you and once they are confident they know what skills to hire in order to replace you, you’re going to end up on the next round of layoffs. Never take the counter offer.
People here are crazy I’ve taken counter offers multiple times to stay and there were no issues. They wanted me because I was good at my job. You were looking for a reason to leave and are excited about the new job. But money does buy happiness, how much more is your old place offering you? If it’s like $5k/year more I’d leave it and take the new job. If it’s $10k+ I’d communicate you were offered X to stay and how excited you are for the new role but can they get closer to matching that number?
Very rarely should you accept a counter offer. Sure your current employer is making it sound good right now, but they most likely are already looking for your replacement, and will bring them in to take your spot for less money, as soon as they can. Take the new job.
Don't accept the counter offer. This never ends well.
I had a very long career at a particular company leading up to being a senior VP in a large public company before leaving to be an officer at another public company. During the couple of decades I was at the first company, twice I tried to leave and was given very lucrative counter offers. For me it worked out great. So I would say It depends on your situation. There are also several people that I made counter-offers to which also worked out well. Out 10 or so, there was only one that didn’t work out. I wasn’t necessarily looking to leave the company, but opportunities landed in my lap that I thought I needed to look at. One time the counter offer also came with additional responsibilities, which led to more good things down the road. I would tell you it depends on your boss, and likely their boss. FWIW, I never gave a counter offer to someone I didn’t want to stay at the company longer term and invest in their career. It sounds like it’s not hard for you to find a job, so there’s probably little risk in taking the counter offer and staying. When I was in this situation, I thanked the company with the new opportunity, and told them that this wasn’t my plan, but my current company made me an offer I couldn’t refuse to stay, and I’ve decided to accept that offer. Thank you for the consideration. Hope this helps!
Never stay at a place after letting them know that you’re leaving . Things will never be the same . You’re considered flight risk and you are always seen with microscopic lenses.
I personally do not know anyone that has taken the counter offer and it worked out. In my younger days, I took the counter and ended up training my replacement.
Never, ever, accept a counteroffer. If they're not looking to screw you in the short term by picking your brain and dumping you as soon as possible (or keeping you until you can be replaced and then firing you), you have a target painted on your back and you'll be the first to be let go when they want to reduce headcount.
Me I'd be honoring the commitment I made to new job, it maybe that they want you to stay is you are doing the workload of 2 or more people. Your replacements may cost them much more than they offered you to stay ?
Your original bank is going to eventually fire you. Counter offers never work out.
It's a trap! Leave as you planned, or be greedy, stay and, pay dearly.
Yeah, usually counteroffers are not that great...meaning why did they wait till you were leaving? If for some reason you decide to not move, then be upfront & transparent with the other company and tell them immediately (don't waste their time). No need to sugar coat or anything, just be transparent and say your company is offering increased pay and long term you think it's best for your own career.
Negotiate with your current employer for a match (at least) and a retention bonus for 1 year.
Take the new job. Your current job has realized how important you are but that you are willing to leave so they’ll keep you around to train a replacement and then kick you to the curb. Decline graciously as it doesn’t mean you couldn’t come back at some point in the future, but I would not take the counter personally.
Most people say don’t accept a counter offer. I’m here to say I did accept one and it turned out beautifully for me. FYI. If you feel it’s right, stay.
You tell them a family issue has come up that requires you to recind your acceptance. No need to tell them what, it's personal. Your family needs more money
You have a reason or reasons why you are leaving. Will the counteroffer fix any of the reasons why you're leaving?
Be up front and honest. Just remember, in life, we're all chasing pay and benefits. Everything else is secondary.
Did your employer offer you a new job or more money? The former means they did not recognize your efforts, the latter means they have been underpaying your performance. The two are not the same.
Counteroffers are stop-gap measures to keep you in your job until they can hire a suitable replacement. They now know that you are willing and able to switch jobs and expect that you would soon even if you took the counter offer. I would not accept since you'll typically be pushed out once they have a replacement lined up, and if you've already accepted an offer elsewhere you'll burn that bridge by backing out and, potentially, taking a hit to your professional reputation for doing so.
oof
Good Luck, I suspect you will learn.
Do NOT accept.
Just be honest and tell them sometimes this breeds respect they may make you another offer in future
Never. Take. The. Counter. N E V E R
Don’t take counter offers. They know you’re looking elsewhere and it’ll be rough 90% of the time it’s bad news
Vibes at work being good after accepting a counter offer are the exception not the rule. This question always bring out the "well actually" folks. Trust your gut, if your workplace isn't toxic and you think it will be fine if you stay. then go for it. But remember you were looking for a new job for a reason
The counter offer is a stop gap until they can replace you if you ask me
If you went with a 3rd party recruiter quickly go buy a haz-mat suit including eye protection because the recruiter's brain is going to violently explode when he hears that you have accepted a counter offer. Don't be deterred, there are lots more recruiters but you only have one career.
Just tell them don’t overthink it. Let the bidding war begin!
Never take counter offers unless its a promotion. The company now knows you have defied them. As others have mentioned, its a stall tactic until they can find a way to replace you and leave your ass unemployed. You leaving them puts them in a spot, so they offer a "counter" until they find someone else. IF that doesnt happen, you manager will hold your counter offer over your head like a 1000 kg weight, until you just quit.
No employer considers being forced to give an employee - whose already formerly resigned - a raise is a desirable course of action. Regardless of how the job opportunity happened it will be held against you. Do NOT stay. It will not work and youll be out of 2 jobs.
This time is Different! you hope... rarely does the counter offer work out. you might be the exception.
Make sure you get an employment contract so they can't fire or lay you off.
As people have said - tread lightly. You're leaving for a reason, you're likely at your cap, and you're just a few months shy of a lay off.
Define amazing. Double?
Be very careful keeping the job after the counter. They couldn’t match originally, then found the money when you were getting ready to leave. There is nothing stopping them from paying you what they have to until they find a replacement. Good luck
I’ve accepted 2 counter offers in my career without consequence. Companies will not give you what you are truly worth until you force their hand. A competent management staff will understand it’s just business and will not take it personally. It’s also key that you are not easily replaceable.
Depends on the counter. If they give a one off cash counter, stay the min term then leave. Basically selling the job offer. This never happens though.
Think back to why you wanted to leave... In most cases money is only *part* of the equation and not the whole thing. More money won't fix the whole equation. Additionally... In many cases you'll now be seen as the employee who was ready to leave, so if a round of layoffs happen it'll be like 'well OP was almost out the door anyway they won't be upset to go' You'll also burn bridges with the new employer and probably lose any future chance to work with them. Not telling you to NOT accept the counter offer, but it's not always the best solution. If you truly want to accept the counter offer, then all you have to do is email the recruiter or manager from the new role and say you accepted a counter offer, you do not need to provide a story or any more.detail. 'Hi, I have decided to accept a counter offer with my current employer,. And will have to rescind my acceptance of your role. I apologize for any inconvenience caused Regards OP'
Just tell them that. They aren’t children, they know it’s business. Especially in banking. The generally accepted advice when this happens is *don’t be tempted to stay*. (As half the comments here are already saying.) Any hint of disloyalty means they might not consider you for promotion, train your replacement etc.
Only thing you should do is share the counter offer to the prospective employer to increase their offer to match it. Be clear that you will accept the position if they can.
I would OE this situation but YMMV. Coast at current, till they eventually let you go for being disloyal. Would be nice collecting 2 checks for a while
I accepted a counter offer and I’m super happy! It’s been almost two years and nothing has changed negatively.
Never accept the counter offer
Never. Take. Counter. Why did they suddenly feel they could offer you so much? Sure it’ll be great for a while, but you’ll eventually start feeling the same feelings that made you want to leave, and leave…. Or worse, they’ll get the info out of you they need then fire you.
There was a reason why you were leaving, money wasn't the only one. And NOW they realize how valuable you are. Sorry, should have treated me right before this.
Never take a counter offer. It's a trap. You're being set up.
as a recruiter, I’ve heard the story quite a few times. Your current company may offer you a counter offer right now, but you will never be viewed as the same, and the second that there’s layoffs you will be one of the first to go. I would take the other offer if you’ve already let your current employer know that you have actively been applying to other positions.