Imagine this: After tons of applications sent out, countless interviews done, at last – you’ve scored a job offer! But, hold on, there’s a twist. Just as you’re ready to break free, your current boss drops a counteroffer on you. Have you faced this dilemma before? What is your game plan?
A counteroffer is meant to make you reconsider your resignation — typically with a promise of a salary increase or job promotion. A survey in the US shows that only 38% of employees receive a counteroffer at work, with 73% of them accepting it. And that they also end up staying with that employer for 3 years extra, on average.
So the million-dollar question is, should you accept a counteroffer? Most career gurus out there will say: “NEVER ACCEPT A COUNTEROFFER.” But after working with thousands of job search clients, I have found that there are times when it actually makes sense to do so.
To help 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 Actually Like The Work
There are days when you may want to just drop everything and move on to the next thing on your bucket list. But if you find your current projects to be fun, challenging, and rewarding, you should consider that counteroffer. Because as you know, the grass isn’t always greener on the other side and it’s rare to find a job that you actually like.
Being in an environment where you see yourself thriving also matters, especially when surrounded by colleagues who are not only professional but also supportive and friendly. If your co-workers are people who you respect, trust, and enjoy working with, it’s another big reason that is worth staying. People matter and finding your tribe is important to a fulfilling career.
The Pay Is Competitive
Let’s be real about one thing, salary, bonus structures, and your expected financial gain should be big priorities when considering moving on to a new job. Money is, of course, not everything, but it can make or break a job offer.
So if you receive a counteroffer that pays significantly higher than the other company’s offer and without much added responsibility, you could be helping yourself in the long run by staying onboard. In addition, you may even reduce stress and improve your overall quality of life by not making a big life change. You should consider this counteroffer with a higher salary, especially if you have existing debts you’d like to pay off, save up 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 in the company because they see that you play a significant role in its growth.
You Want Stability And Security
Although it could be exciting to try new things, consistency is also good, especially when you’re good at what you do. Staying at a job for longer offers job security and career progression that leads to stability.
We were often taught to continue to climb the corporate ladder, but sometimes stability is just what you need right now. Maybe you’re happy with your routine and you don’t want a new commute to work. Maybe you’re at a place in life where you are completely content with how things are moving. If any of that resonates with you, change may not be the best thing for you right now. What matters more is that what you’re doing aligns with your personal and professional goals.
If you genuinely believe that the counteroffer you have on hand will offer you a fulfilling and rewarding experience, you should seriously consider accepting it. I suggest you list out the pros and cons, and make your decision from there. And keep in mind that multiple job offers are a good problem to have… good luck!
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