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Any way to use this new job offer as leverage for more money???

Sid23

Bronze Contributor
Aug 9, 2007
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As some of you know, I work for a small real estate development firm in California. We focus primarily on multi-family development. I was promoted to a project management role about a year ago, after a year in an analyst position. I came into the firm with no prior experience, and basically busted my a$$ and showed I could handle anything they threw at me. I am paid okay (about $55k per year plus $10-15k in bonuses, car allowance, etc), which sounds good, but in my area, really isn't all that much.

As a way to gauge my market value and kind of as a "who knows" type of thing, I sent my resume into a boutique hotel development firm who was looking for a project manager with 5-10 years of project management experience. I was surprised when they called me for an interview, and just now, after 4 interviews, they called me and said they really want me for the position. Apparently, I beat out over 40 other people. I'm way underqualified, but they said my "intangibles" put me ahead of everyone else.

As I think more about my plan, I know hotel development is not the road I want to go down. My goal is to create special places for people to live, so i want to stay in the residential world.

I know J.O.B.'s are slowlane, although a paycheck is a necessarily thing for me at this point. I won't go into major detail, but please assume I understand that a job is not the way to the fastlane.

That being said, this new firm said they would do anything to get me on board. That includes, although $$ hasn't been talked about yet, a nice compensation package. I assume it will be $20k more than I make now, give or take.

So while I want to stay put, does anybody have any tips how to use this new offer to my advantage? I figure there is some way to mention to tactifully mention this new offer to my current employer...any ideas would be appreciated.

thanks!!! :thankyousign:
 

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andviv

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Jul 27, 2007
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Re: Any way to use this new job offer as leverage for more money?

Ask for a formal offer, in writing. When you get it, ask them for 3 days to think about it. Then present this to your current employer. Explain your goals to them, and tell them that you'd prefer to stay there with them but this $$ is something you just can't let pass. Ask your current boss if there is anything the company can offer you to stay.

Remember, you are basically "threating" your employer by taking this approach, so you have to be prepared to walk away from your job and take the new one. If you do, remember that your goal is to save as much as you can from your new salary, so you can start investing on your own. And yes, you may prefer to stay in the same place, but you have been complaining a lot and for too long about you needing more money to be able to make it in the area where you live. Go for the money knowing this is just a way to learn something new, but more importantly, to get your finances in order so you can invest.
 

nomadjanet

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Aug 28, 2007
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Re: Any way to use this new job offer as leverage for more money?

Personally as an employer if someone comes in to ask for more money, what I need to hear from them is why they are worth more to the company. You have taken on more responsibility, produced more revenue, closed more deals whatever. You can always mention the other offer but it has to be about what are you doing for them first. This is a business decision; if you were the boss and they were the employees what would you want to hear. I cannot tell you how many times I have heard, I need a raise because my wife is pregnant. This is an immediate turn off in my mind; I deserve a raise because I produced 100k more revenue this year than last year is what I need to hear.
Janet
 

tbsells

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Jul 27, 2007
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Re: Any way to use this new job offer as leverage for more money?

You said your current employer is small. How small? If its small enough that everybody knows everybody this is risky business. You may negotiate a better compensation package or you may go from fasttrack to backdoor in a hurry. I've seen things of this type be viewed as disloyalty. You may be viewed as "not a team player" or some other negative quality simply because you are looking around. If its a little bigger company where it will not be taken personally, then the risk is alot lower. I say go for it. $20k is a big raise. Obviously the new company has alot of confidence in you. It may open doors to you that you cannot even imagine at this point. Ultimately the decision is yours. I guess my opinion is that making that type of request will change things for better or worse. Things at work will probably not be the same. If you are willing to accept that risk, its worth it. If not, tread very carefully.
 

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