Imagine this: After tons of applications sent, countless interviews, finally – you got a job offer! But, wait, there’s a twist. Just when you’re ready to break free, your current boss throws in a counter-offer. Have you faced this dilemma before? What is your game?
A counteroffer is meant to get you to reconsider your resignation — usually with a promise of a raise or a job promotion. ONE overview in the US shows that only 38% of workers receive a counter offer at work, with 73% of them accepting it. And that they also end up staying with that employer for 3 years more, on average.
So the million dollar question is, should you accept a counter offer? Most career gurus out there will say, “NEVER ACCEPT AN OFFER.” But after working with thousands of job search clients, I’ve found that there are times when it really makes sense to do so.
To guide you through this situation, here are three compelling reasons why you might want to accept a counteroffer and stay put with your current team.
You really like the project
There are days when you might just want to drop everything and move on to the next thing on your list. But if you find your current projects fun, challenging, and rewarding, you should consider this trade-in. Because, as you know, the grass isn’t always greener on the other side, and it’s rare to find a job you really like.
Being in an environment where you see yourself thriving is also important, especially when you are surrounded by colleagues who are not only professional but also supportive and friendly. If your coworkers are people you respect, trust, and enjoy working with, that’s another big reason to stay. People matter and finding your tribe is important to a fulfilling career.
The pay is competitive
Let’s be real about one thing, your salary, bonus structures and expected financial gain should be big priorities when considering moving to a new job. Money, of course, isn’t everything, but it can make or break a job offer.
So if you get a counteroffer that pays significantly higher than the other company’s offer and without much additional liability, you could be helping yourself in the long run by staying on board. Plus, you might even reduce stress and improve your overall quality of life without making a big life change. You should consider this trade-off with a higher salary, especially if you have existing debts you want to pay off, save for your future, or even retire early.
This is also a good sign that your employer is willing to invest in you and your future at the company because they see you playing an important role in its growth.
You want stability and security
While it could be exciting to try new things, consistency is also good, especially when you’re good at what you do. Staying on the job longer offers job security and career progression that leads to stability.
We’ve often been taught to keep climbing the corporate ladder, but sometimes stability is just what you need right now. Maybe you’re happy with your routine and don’t want a new commute. Maybe you’re at a place in life where you’re completely content with how things are going. If any of these resonate with you, change may not be the best thing for you right now. What matters most is that what you do aligns with your personal and professional goals.
If you genuinely believe that the counter offer available to you will provide you with a satisfying and rewarding experience, you should seriously consider accepting it. I suggest you weigh the pros and cons and decide from there. And keep in mind that multiple job offers are a good problem to have…good luck!