A good job and a good offer — how to choose

Dear Bob …

I have a kind of strange question, especially considering the current economic environment.

It seems that I have too many opportunities at the moment. Currently, I am in a position I like that has challenges, a great team, interesting work, great future potential, but also a moderate amount of future risk as well.

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I’m viewed as a key technical leader for my current project and some other projects, and I’m being given much larger responsibility in charting direction for the business as a whole.

Sounds great, right? The problem is that a former employer recently approached me to see if I was interested in a new position with them. I left them on very good terms and am held in high regard by them.

The new position is a step up on the technical ladder from what my job title is now, but is pretty much a lateral move from the actual work I’m doing with my current employer. I know the work they have and would like that work as well, but it’s not quite as exciting and interesting as my current job.

But, as I said, the position is for the next level up from where I am now, meaning that the pay would be substantially higher. Here’s the rub: If I could have the title and pay for this new job at my current job, there’s no doubt I’d stay where I am. However, I am not confident that a promotion or pay increase is in the cards as I feel that since I’m already working at this level, why would my employer pay me more for the same work they’re getting for less money now?

I’m nervous about going out and getting an offer for the new job and informing my current employer about the opportunity as I’m sure it would be seen as blackmail (which I guess would be what it would be).

All in all I think I’m ready to be at the next job level, but I really want to be paid at the next job level and not give it away for free. Any ideas on how to handle the situation?

– Overwhelmed by opportunity

Dear O-by-O …

Gee, that is too bad! You’re going to get sooooo much sympathy from Advice Line’s readership …

Nonetheless, I do understand your dilemma. Beyond the career decision and potential economic consequences, you’ve stepped into emotional quicksand. Harry Truman once called regret the most crippling of emotions, and no matter what you decide, you risk experiencing regret once you do so.

There isn’t much either of us can do about that, though, other than giving you confidence you’ve done what you can to make a rational decision.

Here’s the key for me: You said, “If I could have the title and pay for this new job at my current job there’s no doubt I’d stay where I am.”

If there’s no doubt, I’d advise staying where you are, unless your current compensation leaves you strapped for cash or concerned for your retirement, or that the “moderate risk” you mentioned is actually more like a serious risk your paychecks won’t clear in the not too distant future.

The problem with chasing the highest salary is that the only right answer is “more.” That way lies a life of nothing but dissatisfaction with what you’re paid.

If you’re really that strongly driven by money, you’re in the wrong field. Go into sales or investment banking.

Which isn’t to say you should be entirely passive on the compensation front. Assuming your relationship with your manager is both positive and comfortable, I’d advise you to talk with him or her about it. Be open about having received an offer from your former employer, and that what they offered you is at a more senior title, which would have put you in a higher pay band than you are right now.

Make it clear you aren’t planning to accept the offer because you like your team, your working environment, and the technical challenges. And you aren’t threatening to leave unless you get a raise. What you do want is a favor, namely …

It’s hard to get a call offering a promotion and more money without wondering if you’re undervalued relative to the marketplace. And even though you’re confident you made the right decision for yourself, it’s hard to turn down an offer like that. That being the case, ask your manager if he/she would mind asking the compensation department to review your situation, to determine whether it’s time to move you to a higher pay grade. If it isn’t, you’d like to start a conversation about what it will take to get you there.

You know you don’t want to leave. What you want is to avoid temptation.

I’ll caution you in advance that this sort of conversation can be delicate, especially with a manager whose abilities are questionable. From what you described, I’m guessing your boss is a reasonable sort, who will appreciate your taking this approach.

So long as you plan the conversation so you know how you’re going to say what you have to say, I don’t think you’ll do any damage and will very likely do yourself some good.

– Bob