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Additional Posts in Pharma and Biotech
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Does AbbVie have a four day work week?
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No one will look after you and your family like you will, so you need to choose what is best for you and them - the multi-billion dollar company will get over it. I was in a similar situation and was honest with my current employer about a signed offer when I was interviewing so they could make an as informed decision as possible. I got a title and pay bump and have been so incredibly happy with them and have moved up several roles. It was the best decision I’ve ever made and I would be nowhere near where I am now if I didn’t rescinded that singular offer.
Exactly.
I would leave - There is a reason you were looking in the first place
Mentor
If the counteroffer solves all your problems with your current company (like comp, title, responsibilities) then taking it makes sense. If there are structural issues that aren’t fixed by the counter, I would seriously consider the new company, like J&J is saying
I think they’d appreciate your honesty and a bit of insight into who you are, but don’t think too much into it…companies have 0 loyalty. You’re just a number on a balance sheet.
It’s a bad look but not impossible. I’ve done it once before. Happy to chat details in DM.
If your company waits until you have another offer to give you what you're worth it's too late. If you wouldn't accept it in a relationship, dont accept it from a corporation.
I have rescinded an offer I’ve accepted in the past so this would potentially be the second time for another big pharma company in the NJ area.
Are there any lasting consequences? Do you know of anyone being “black listed” from companies for doing that?
In my function, you’d be removed from HiPo or any other development status. But you can counter that by moving to another group later.
I think J&J3 summarized the best advice.
It’s always good to weigh pros/cons, but I’d likely rank the risk of retribution for staying with your current low. As far as the company that you’d be passing on, they ain’t the only fish in the sea.
Don’t take the counter offer. The counter offer usually fixes the symptom, not the cause.
If you were far enough along to accept another role, there was already a trust, growth, workload, or culture issue. A last-minute raise or title change rarely changes those fundamentals. It also signals to leadership that you were willing to leave, which can quietly limit future opportunities. Many counter offers are temporary bridges while the company backfills or restructures.
In short, you already made a decision with clear eyes. Going back often puts you in a weaker position, not a stronger one.