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If you prefer to stay , then decline the other offer. You can tell them exactly the same. You have been promoted and you have higher pay. I’m not sure what other options you think you have and why you think this is a tough situation. Unless you don’t trust your company to promote you or pay you higher
It would’ve been tough if you didn’t have a preference. Stop treating corporations like your friend , their feelings don’t get hurt. Do what is best for you
Ensure that you document all the terms and expectations you have from your current company. Be honest with the other company and express your sincere appreciation for their time and consideration. However, it’s important to acknowledge that your heart is set on staying with your current company. Additionally, recognize that your company should have promoted you and provided you with the desired salary from the beginning. Consider your feelings next year, as many companies offer promotions and salary increases as a reactive measure, but it’s crucial to ensure that these adjustments align with your long-term goals.
There is a major difference between boomerangs back in 9 months and staying for a raise. In the boomerang opportunity, you got to see whether the grass was really greener, and you made the decision to return - hopefully with more skills and contacts at a higher level and pay. In the stay - this is it. This is your promo and raise for the next year. This is shut up and dont complain money. This had better be exactly what you need, because there isnt anymore and in a year and a half they aren't going to do this again. But, if you stay with a real, meaningful promotion, with a real and meaningful new voice that you earned - thats good too. What you need to know is: is this shut up and dont leave worm money, or is this we wanted to promote you to stay and fought tooth and nail to push through a due promotion off cycle when they were on hold because we value you money?
Honestly I get you. I think it is best for me to stay as I actually really like my team and it’s more money! Im also quite new to this company itself as well so didn’t ask for a promotion as I assumed it couldn’t happen (which is why I was leaving) but now they’re fighting for me to stay. Also helps that if I stay I don’t have to pay back a couple grand in study fees for my exams.
Pro
I've been on the manager side of this. It's somewhat annoying when people back out of an offer soon after accepting.... but I get it. Happens. If you just accepted the other, they probably have other candidates they can reach back out to. Don't overthink it
Waaay more annoying when someone jumps ship after a couple months (lots of wasted time training them)
Wow that’s a long notice period. Is this in the USA or larger country?
Make sure you get the promotion in writing. Verbal vs written statements are two different things.
Have you already got your equipment, finished the background check process, etc.? Or have you literally just signed the written offer so far…?
Haven’t gotten any equipment and start date is only in September due to the long notice period! Have completed all background checks though so only thing left would’ve been to work the notice period.
What ever way you go be carful not to burn any bridges and be honest about your decision.
Most people who stay with a counter offer leave before 9 months passes…
Pro
I don't know. I would go. It rarely goes well when you stay. Why did you choose to accept the offer? Was it money along? The role? The company. I recommend you do a full comparison of both to make sure you are making the best decision. Also, find out more about the promotion...role and responsibilities too. Good luck on your choice.
Stay where you love it the most and you got a raise so stay if it’s your happy spot