HACK 156 Use a Job Offer to Get a Salary Boost

If you’re having a hard time getting your boss’s attention to negotiate a raise, it may be time to enlist an outside influence: a counteroffer. If you can get a better job offer, you may be able to use it to get a raise in the job you already have. You don’t need to share what company the other offer is with—just simply state why it’s compelling and what factors would make you consider staying with your current firm.

While you don’t want to give your current employer an ultimatum, laying out what your current company can do to match your offer can help you get a much-needed salary bump. Of course, make sure you’re serious about staying with your current employer, but also know what it would take to lead you to jump ship if your company isn’t able to counter. Some companies have a strict policy not to provide counteroffers if an employee has an offer elsewhere, so ask a few trusted colleagues at your current job about that before you start going on interviews.