Beware of the Counter Offer
Webster's Dictionary defines counteroffer as "an offer or proposal made to offset or substitute for an earlier offer made by another." In November 2006, Real Simple magazine published an article that classified work as one of the top five causes of stress in a person’s life.
You have been offered a new position, one with growth potential and a moderate increase in compensation. You have analyzed and agonized over the decision to leave a good or even a bad job for what could be a better one, and have accepted the offer. However, upon resigning, your current boss asks you to stay. This appeal is known as a counteroffer or buyback.
In recent years, counteroffers have practically become the norm. But while counter/buyback offers can be tempting, take care not to fall into the trap or be blindsided to your own detriment. Career changes are tough enough as it is, and anxieties about leaving a comfortable job, friends and location and having to reprove yourself again in an unknown opportunity can cloud the best of logic. But just because the new position is a little scary doesn't mean it's not a positive move. Besides, you've analyzed, accepted and committed to the new company, which has already made plans and accommodations around you and counting on you.
When presented with a counteroffer, ask yourself the most obvious question…
- Part 1: Intro
- Part 2: What Changed
- Part 3: Negative Consequences to Accepting a Counteroffer
- Part 4: Counteroffer Stats