How to Take a Rival Job Offer to Your Boss
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Here's your Money Briefing for Monday, August 23rd. I'm Charlie Turner for The Wall Street Journal, filling in for J.R. Whelan. Suppose you get a job offer from another company but aren't sure you want to take it. Should you use the rival offer to negotiate some better terms with your current employer?
The truth is, it's just, it's a hard market to hire in right now, so I think mostly employees do have some leverage.
Coming up, our work and life columnist Rachel Feinzig joins us with some advice on how to leverage that offer with the boss. That's after the break.
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So you've gotten a job offer from another company. It's not perfect, but tempting enough to make you think about your present work situation. So what do you do? Do you go to your boss and mention the new offer as leverage to get what you want, a raise or better working conditions? Or keep it to yourself and make a decision on your own? Our work and life columnist, Rachel Feinzig, is here to talk about navigating a rival job offer. Rachel, thanks for joining us. Thanks so much for having me. Rachel, we've had you on the show a couple of times recently talking about various aspects of leaving a job. So let's talk about how getting an offer from another employer fits into that. If an employee is thinking about going to the boss about this rival offer, what are the potential pitfalls?
Yeah, I mean, it's obviously not risk free. I mean, the biggest risk is that your boss is just like, congratulations, like best of luck. And then you have to leave, you know, even if it's not an offer that was perfect that you necessarily would have been out the door for. There's also a risk that they offer you something better and you stay. And then things are weird. Your manager is, you know, there's like a little bit of acrimony or they're super high expectations and you're kind of not able to smooth that over. So there are definitely ways that this can go wrong.
Rachel, it's a tight labor market now with companies looking for talent. Wouldn't a worker more likely be in the driver's seat when approaching the boss in such a situation?
Yes, I think. I mean, you know, it's going to depend on the industry and your specific company. But in a lot of places, yes, I think this is the perfect moment to do this. I think people have a lot of leverage. I mean, look around your company, you know. Is your company, have they been losing people? Are they kind of desperate to keep people on staff? Do you feel like you're indispensable? I mean, the flip side of this is that if they're doing a lot of hiring, they might just have a ton of people in the pipeline and be like, okay, it's fine if we lose Rachel, you know, we have like five other candidates. But the truth is, it's just it's a hard market to hire in right now. So I think mostly employees do have some leverage.
You've talked with executive coaches and recruiters about this scenario. What do they say an employee should be thinking about prior to meeting with the boss?
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