Using a new job to Increase currently salary

[Pravus1]

Hi All,

I recently had a pay rise after 2 and a bit years at my current role however it was a very small increase and I'm already on below market value.

I have an interview for another role soon but apart from pay am reasonably happy where I am now. Has anyone had any success using a job offer to raise their current pay?

[QuartzDad]

Yes.

It's usually a one time exercise so make sure it's a number that makes it worthwhile. I left a year later anyway for even more money.

And work out in advance what you're going to do if they call your bluff.

[Nezquick]

I did this once a long time ago and it worked.

However, I think the important thing to bear in mind is that you have to be willing to follow through and leave if it doesn't work, otherwise you'll just be seen as a mug.

Worth going to the interview though to see what happens - it may turn out to be a much better company with better pay as well.

[super7]

You need to go to the Interview first and get the job with an offer at a higher rate.... and you have to be prepared to follow through with your actions. If this is purely a blackmail opportunity with your current employer expect it to go very wrong!

You need to be negotiating from a stronger position, if you can get that position then if the current employer counter offers with a higher Salary, all's good. If not then your still leaving for the right reasons, a better Salary and hopefully a better job with a better future,,,,,

[Pravus1]

Thanks for the feedback all.

The job does offer good prospects and is close to home so I would follow through if nothing forthcoming.

[Monkeylegend]

I would go one stage further and say if you get offered the job at a salary acceptable to you, and it is a job you would want, hand in your notice .

If you say you will only stay if they offer you an increase before you officially hand in your notice, they could see this as blackmail and won't bow to that under any circumstances so you could be shooting yourself in the foot.

If your current company values you,they will try to keep you and might offer you some incentive to stay. If they don't. and just accept your resignation, you will know what they truly think of you and it's time to move on.

Let them make the move to keep you, it gives you the bargaining power.

Edited by Monkeylegend on Thursday 7th March 13:04

[Jonny TVR]

Say that the other company headhunted you and that you weren't actively looking.

[Pravus1]

I'd probably go with the headhunted route for discussions as thats how they hired me in the first place.

The place definitely has it's issues and problem people for sure. We shall see how the interview goes.

[xjay1337]

I doubt they would give you an increased offer.

[Tyre Smoke]

As an employer, I already pay my staff as much as I can afford. Luckily we pay more than anyone else in the sector locally.

If someone came to me and said they had been offered an interview to work for X at an increase in salary of £yyy I would wish them the best of luck. Then mentally make a note that they were looking for another job.

If ever anyone has come to me asking me to match it, I have always refused. Partly on principle, but mostly on the cost. Not every employer can afford to suddenly pay a whole lot more, and some employees think they are indispensable. If I was 'blackmailed' into paying more to keep that employee, i would resent it. I'd also have in the back of my mind that they are not fully committed to the company - let's face it, any employee is never going to be as committed as the boss.

OP, I wish you well. The only way to increase your standard of living (salary) is to job hop. The days of staying with one employer for life are long gone.

[blueg33]

Four years ago I was head hunted, the new role offered me £40k more per annum and a Golden Handshake to offset some bonus worth £20k, I was happy in my job and happy with the new role. I was open with my employer, and made the point that it was a significant difference in salary, my employer wanted me to stay, but couldn't quite match the new salary. We settled on a pay rise of £35k and my bonus guaranteed to exceed £20k.

We were both happy, in the last 4 years I have turned a £5m investment my employer made into £200m of asset value and my bonus has reflected that.

However - last year I got a new line manager, who quite simply is a bully. I called the company that tried to headhunt me 4 years ago, and I start with them in May this year with a significant pay rise and a much better pension. I also get more opportunity to travel and am off to China in June

I am currently working my notice period which I negotiated down to 3 months.

So, yes Op you can do it, but you absolutely have to be prepared to move to the new job, you can't bluff this sort of thing without looking like a bit of a pratt.