With the job market improving steadily in many areas, especially in the Silicon Valley, it has become easier for people to land jobs of their choice in a relatively short order. In some technology and marketing areas (Big data, marketing analytics, gaming, UI designers, among others) the competition for the right talent is so fierce that it is not difficult to get multiple offers, without even looking for a job! During the past few months I have received many calls from my clients and prospects on how to deal with multiple offers and how to turn-off the less desirable offers at the right time. Some came to me too late for me to help them.
Multiple offers can also be a reality for those, who manage their job-search campaigns well, and who stage their interview process to land different offers in a short time window. One advantage of staging your campaign for multiple offers is that you can take the action from one target and leverage that to precipitate action from a more desirable target. This works really well if you learn how to use the right timing and approach to get the offer you want by pivoting a less desirable offer.
Regardless of how clever, analytical, and objective you can be about making a selection from a variety of choices, when it comes to choosing the right job—and the right offer—it is difficult to not get wrapped up in your emotions and to make a decision based on irrational factors. This blog is about some of the common themes that I captured from these recent client encounters. It is provided here as a guide to those, who may need to navigate through multiple job offers, without getting emotionally crippled by the choices and the risks associated with making an unwise choice.
- If you are looking for a better opportunity, design a well-staged job-search campaign, so that you will have a series of interviews in a short time window (30-45 days).
- Build interview momentum by leveraging action from one front into other fronts and try to make a sequential train of job interviews in a short order. Do not hide that you are also interviewing at other places, but without revealing their identity.
- When one offer comes, first evaluate it and then decide how you want to negotiate it by first asking the person making that offer if there is any room in their numbers (there often is!). Start negotiating the offer before that offer is formalized in an employment letter. Once that letter is signed it is almost impossible to change the offer. Some may even withdraw their offer if you do that.
- As the employer with your counter proposal is formalizing the first offer, immediately call those that are close to wrapping up the interview process and tell them about the offer you already have (no names, numbers, or details), and the timeline to which you are working. This often forces them to put a different priority on how you are being processed. It often causes them to move favorably if they are sitting on the fence and are not sure about you. Never lie about having an offer just to create action on the fronts you want. It is OK, thought, to say that you are expecting an offer to get them going on theirs.
- Once you have multiple offers try negotiating each one based on what is happening on other offers. In one case recently, a client got his sign-on bonus bumped up from $10K to $40K, based on how he was able to leverage his other offers.
- Once you have all the offers in hand, negotiated to your satisfaction, then decide in prioritized order which offer provides you the best career track (not just money) and momentum. Also, consider other factors such as work-life balance, commute, and the employer’s overall reputation in the market. Visit glassdoor.com and other sites to ferret out this information.
- Once you have narrowed your choices and are satisfied with your package, call the company on the top of your list and ask the person in contact with you throughout this process if the package they gave you is their best and final offer. Depending on their response go through the finalization process and tell them that you are accepting their offer. It is critical that you ask them if there is anything that will prevent them from bringing you on board after you accept the offer. This is an important question to ask.
- Do not turn off other offers until the time for their deadline has come. If you need to, make sure that you ask for an extension. One-time extension of about week is reasonable if you give them a good reason (“I need some time to reflect on this offer in view of my long-term career plan…”).
- Before turning off other offers call your contact at the employer where you accepted the offer, yet one more time, and tell them that you are now declining the other offers and ask them if there is anything remaining in the process that will prevent you from joining them on the start date you agreed to (in #7). This will obligate them to make sure that there are no surprises looming. Resign from you current employer ONLY after everything is lined up (consider their counter offer, if any, in the same way as other offers, and do NOT accept promises).
- If you accept more than one offer to protect your options and then give them a start date, only to renege when that date comes, be prepared to suffer the consequences of being blackballed from that company for future employment.
Good luck!