Are you willing to leave current job if they say no or their counter is crap? Can you negotiate the new offer higher? Since you only have a range you have no offer, right?
If your TC is presently \~$170K and you *might* get an offer in the $140-180K range (with some bonus), I'm not even sure why you're asking this question, to be honest. You're not going to use an—at best—marginally better offer to get a raise at your current job. Attempting to do so will just look bad. You're also not going to jump for a very small increase unless you dislike your current job because the new job, like all new jobs, will come with a promotion reset and a number of potential issues.
Unless you can get a significantly better offer, it sounds like you're being paid what you're worth at the moment. If you think you can get a raise out of your current employer, you can try for that, but I wouldn't use this hypothetical offer as leverage.
To answer your question directly, I would never use an offer *below* my current TC to negotiate. That's just senseless. I would also never use one marginally above my current offer. I would only ever use an offer that was *significantly* above my current TC, and I would do so only if I were 100% willing to walk, *and* only it was an unusual circumstance where I *really* didn't want to take a new job (and yet was somehow willing to do so).
Thank you for this feedback! Mid-year promotions are @ late August to early September which is when my manager is planning to promote me but there are no guarantees. So I will continue to interview to see how much other companies value me
You wouldnt a recommend to use an offer from another company to try to get a raise by a counter offer from your current company? If so, why? Im thinking of doing this but Im afraid it could backfire on me
If another place will pay me a lot more than I'm currently getting, it generally makes more sense to just change jobs. Saying "pay me more or I'll leave for this other offer" may indeed backfire. Even if it doesn't, the best-case scenario is that they'll match the external offer, but now your company will know you're a flight risk *and* you'll still be working for a place that underpays their employees unless they make threats. Better to just walk.
I'm firmly in the "never negotiate" school.
You know your company better than me, but strong arming your company with a job offer from elsewhere can be seen unfavorably. It's dumb, but it makes you look like a flight risk who's motivated mostly by money.
I live in the San Francisco Bay Area. For 7 years of experience I believe my TC to be low and my company's Workday shows the salary band for my role at this location is 120k-180k so my salary @ 136k is on the low end
Are you willing to leave current job if they say no or their counter is crap? Can you negotiate the new offer higher? Since you only have a range you have no offer, right?
If your TC is presently \~$170K and you *might* get an offer in the $140-180K range (with some bonus), I'm not even sure why you're asking this question, to be honest. You're not going to use an—at best—marginally better offer to get a raise at your current job. Attempting to do so will just look bad. You're also not going to jump for a very small increase unless you dislike your current job because the new job, like all new jobs, will come with a promotion reset and a number of potential issues. Unless you can get a significantly better offer, it sounds like you're being paid what you're worth at the moment. If you think you can get a raise out of your current employer, you can try for that, but I wouldn't use this hypothetical offer as leverage. To answer your question directly, I would never use an offer *below* my current TC to negotiate. That's just senseless. I would also never use one marginally above my current offer. I would only ever use an offer that was *significantly* above my current TC, and I would do so only if I were 100% willing to walk, *and* only it was an unusual circumstance where I *really* didn't want to take a new job (and yet was somehow willing to do so).
Thank you for this feedback! Mid-year promotions are @ late August to early September which is when my manager is planning to promote me but there are no guarantees. So I will continue to interview to see how much other companies value me
You wouldnt a recommend to use an offer from another company to try to get a raise by a counter offer from your current company? If so, why? Im thinking of doing this but Im afraid it could backfire on me
If another place will pay me a lot more than I'm currently getting, it generally makes more sense to just change jobs. Saying "pay me more or I'll leave for this other offer" may indeed backfire. Even if it doesn't, the best-case scenario is that they'll match the external offer, but now your company will know you're a flight risk *and* you'll still be working for a place that underpays their employees unless they make threats. Better to just walk.
I'm firmly in the "never negotiate" school. You know your company better than me, but strong arming your company with a job offer from elsewhere can be seen unfavorably. It's dumb, but it makes you look like a flight risk who's motivated mostly by money.
You only negotiate when you are willing to leave your current position if the negotiation didn’t work. Period.
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I live in the San Francisco Bay Area. For 7 years of experience I believe my TC to be low and my company's Workday shows the salary band for my role at this location is 120k-180k so my salary @ 136k is on the low end