Navigating simultaneous job offers from competing companies

January 12, 2015 2:35 PM

I received a job offer from company A this morning, and I anticipate a job offer from company B sometime after a final-round interview tomorrow. The companies are direct competitors, and each is aware that I'm in talks with the other for the same type of position. Both companies have good reputations, but it's generally accepted that company B pays more. Questions inside.

-I haven't yet negotiated with A, telling them I need time to think it over. I intend to tell B about the other offer during the interview without giving the specifics, but is it ever wise to share those specifics, either voluntarily or if they directly ask?

-Is it best to go ahead and begin negotiating with A, independently of waiting on a possible offer from B? Or is it best to delay A for a reasonable period and evaluate B's potential offer, if it arrives?

I have a sense of what B generally pays new hires, but I've heard of significant variations and I'm also unsure just how much negotiating leverage my other offer gives me.

-What is a reasonable period to of time to expect A to wait for my answer?

posted by anonymous to Work & Money (3 answers total)

I intend to tell B about the other offer during the interview without giving the specifics

Company B should know right now that you have an offer on the table from Company A. There may normally be several hurdles at Company B associated with getting you an offer that would take Company B a while to deal with even if they decide to hire you after the interview. If Company B knows you have an offer, those hurdles can be handled more efficiently (or bypassed).

This should not be something you talk about in the interview. As a logistical matter, you may not have a private time to communicate this to the hiring manager. As a professional matter, hiring logistics are not generally discussed at interviews.

is it ever wise to share those specifics, either voluntarily or if they directly ask?

If the Company A offer is significantly below market rate, such that a "normal" offer from Company B would be significantly above the Company A offer, then there's no reason to disclose the exactly offer details to Company B (although you should indicate there is an offer). If you do disclose the actual offer amount, Company B will simply offer Company A's amount plus some nominal percentage rather than what they would otherwise. Don't assume Company B "generally" pays any amount. A rational company will always pay the least amount of money necessary to retain you as employee, not any set amount.

If the Company A offer is significantly above market rate and you think Company B might not be able to match it, I'd disclose to avoid a pointless interview. However, it doesn't seem like this is the case.

One bit of script you can use here is something to the effect of, "I'll evaluate both offers seriously based on the particulars of each offer. I promise you I will give you a chance to respond to (other company)'s offer in case they are more competitive." To be honest, it shouldn't really matter whether you disclose or not because a multiple offer situation should result in competition between Company A and Company B without you having to do anything.

Is it best to go ahead and begin negotiating with A, independently of waiting on a possible offer from B?

You should never wait for a potential offer. Any company you want to work for can turn an offer very quickly. So, if you don't receive an offer quickly from Company B, it's either because you don't want to work there (their processes are too convoluted/strict) or they don't actually want to hire you. Start the process with Company A now, but tell them it will take you a few days to respond and that they are in a multiple offer scenario. They won't do anything immediately, but that'll make them aware they may need to make a counter-offer to Company B's offer. The more time they have to prepare for a bidding war, the more able they are to do so on short notice.

What is a reasonable period to of time to expect A to wait for my answer?

Any company that expects a decision before 2-3 days is not somewhere you want to work.

In a multiple offer scenario, waiting to resolve the offers up to a week is reasonable to ask for. If they balk, they are ignoring your financial best interest, which doesn't say much about them.

I would not normally expect a company to wait more than 1 week, especially for a new graduate. If you decline to work there after a week, you've wasted their a week of their time hiring somebody because they will not be making an offer to the next person on the list during the time you are deciding.
posted by saeculorum at 2:59 PM on January 12, 2015 [6 favorites]

Did you receive company A's offer in writing? Does it say how long it is good for?
posted by mr vino at 3:33 PM on January 12, 2015 [1 favorite]

You'll have a couple of days once you get the offer in the mail. Then you'll do the drug test and the background check and probably be given an on-board date about 2 weeks hence.

When you go into your interview tomorrow, it's not a bad thing to say, "I did want to let you know that I've received an offer from company A and I'm in the process of reviewing it, what kind of time frame are you looking at for this position?"

Then relax. It's also not so terrible to say to Company A, "Is there any wiggle room in the money?"
posted by Ruthless Bunny at 5:58 PM on January 12, 2015