Wider market awareness
If you do accept a counter-offer that results in a substantial increase in salary, you may end up being overpaid compared to the market rate for your level of experience. This could make an external move in the future challenging, as your remuneration won’t accurately reflect your value in the market.
But, think what you are leaving behind: Working at an organisation for a period of time means you’ve built up equity, whether it’s the relationships you’ve developed or your service record.
If you decide not to stick with your current employer, use it as an opportunity to thank them for the offer and reiterate that while you enjoyed your time with the organisation, you remain firm in your decision to leave. There’s little point at this stage in burning bridges by listing everything you felt was wrong with the organisation and your role. You never know when you’ll encounter your old manager again.
Most people make the most dramatic improvements to their career progression, immediate and long-term earning potential by making an external move, but that doesn’t mean that the most positive move for you is necessarily one outside your company. If the deal offered by your current employer changes, it deserves fair consideration at least.
The counter-offer situation can be a tricky one to handle, so if you’re unsure speak to your Michael Page Human Resources consultant for more advice on how to proceed.