I have signed an offer letter with a consulting firm. While waiting for the work permit, I received another job offer with a higher salary. As I prefer to join the firm that I've signed the offer letter with, but it seems the salary that they're offering is on the lower side. Is it possible to renegotiate the salary with the firm leveraging on the new job offer that I have?
Your advice will be greatly appreciated. Thank you!
(edited)
Hey there,
Unfortunately, I don't think that this makes sense or is wise to open the box again for three reasons:
1. You have very little leverage here since the deal is signed
2. You don't want to create any negative stir before you start
3. Consulting firm salaries are usually fixed with very little (if at all) room for negotiation
Cheers,
Florian
It would be very unprofessional and not recommended if you have already signed. You are indicating that you are continuing to pursue other opportunities after signing which is also a red flag. It's also worth noting that there isn't really room for negotiation with entry level consulting salaries in the first place.
First of all, consider everything that has money value in the offer and confirm whether the TOTAL TARGET COMPENSATION is really that different. You may have a higher variable or benefits in your current vs. alternative offer. Make sure you are not looking into fixed compensation only…
If this is an entry level position don't even think about it! They won't do it, they may retract the offer (I would) and even if you get what you want, in 1-2 years you'll be promoted and at that point they will give you the same salary they give to everyone else (i.e., it's only a short term gain, no long term effects there).
If this is not an entry level position, and you have relevant expertise (i.e., you are valuable not because of your potential, but you are already a real "asset), then you may have some room. However you have to understand you risk them retracting the offer. So you should only do this if it seems that they are offering you below market rates and you have to have a very tactful approach.
I am happy to discuss through private message how to approach this, if after reading all of this you still think it's a viable idea to try to renegotiate.
(edited)
Hello,
I completely agree with Ken - unfortunately I don't think there's much room for negotiation once you've already signed the offer.
Hi there,
Congrats on getting two offers - that's fantastic!
I'm sorry but it would be terribly unprofessional to do this. Not only would it result in your starting off on the wrong foot but you could even have your offer reneged (I've seen this happen before).
Please just be happy with the initial offer!
Hey, please don't do this. Very bad idea & unlikely you will get anything good out of it.
I hope you made the decision by considering all the various factors and chose this company as its a better fit. $$ purely should not sway the balance.
Most consult salary ranges don't have room for negotiation. Plus you've already signed the offer. So unless you want to lawyer-up against the firm before you have even joined - I'd suggest to think more tactically. If money is an important consideration v/s the company then you might want to go with the second offer.
Hi there,
Honestly that would be really tough if you signed and won’t give a great impression to your new employer if you try to do so. The only situation where I would try it is if you are ready to walk away from the offer and go for the alternative if they stick to the lower salary.
Also, not sure which is the firm you signed with, but in most top firms the base salary is not negotiable and you can only negotiate (i) seniority or (ii) signing/relocation bonus.
Hope this helps,
Francesco
