You’ve accepted a job offer and given notice, but your boss doesn’t want you to go. In fact, they’re presenting you any number of incentives from increased pay, bonuses, promotion or job title enhancements.

What do you do when presented with a counter-offer from your current employer?

As a general rule, the answer should be a respectful, “Thank you, but it’s time for me to move on.”

Why turn down a generous raise, new office, extra PTO, or other potential perks or advancement? Because, quite simply, you already knew it was time to go; that’s why you found another job.

When presented with a counter offer, it’s worth considering:

That offer is often a knee-jerk reaction - an effort to keep an experienced team member. That said, your employer sees that you’re no longer happy there and it’s common for them to start looking for a new person (often at a lower salary level) to replace you.
Whatever non-monetary reasons led you to seek new opportunities will still exist, and potentially be exacerbated. Even when employers pledge to make changes, organizational change is difficult. Old habits die hard.
Your coworkers may view the whole situation as a money grab or a way to jump ahead. Be wary of interpersonal tensions.
Whatever concessions you received were not planned or budgeted for. It will impact your upward mobility (future promotions, salary increases) and leave you more vulnerable if layoffs are on the horizon.
It was a significant undertaking for the new employer to interview, vet, and offer you a position within their organization, involving multiple people’s time and often expense, too. As in any negotiation, once an offer is accepted (signed or verbal), there is an understanding that a deal has been struck. Going back on that offer acceptance will usually close the door to that employer forever.

What about situations where you love everything your job? The only reason you were looking was to get more money, which your current employer just offered you if you agree to stay:

Extremely tempting to say yes, but the reality is that your employer did nothing until their back was against the wall, which is problematic at best - a glaring red flag at worst.

Sometimes things will work out just fine, but switching employers is something that should be well thought through from start to finish. If you’re not fully committed to a new opportunity, it’s best to not even start a job search.

When you’re ready to make a move; prepare thoroughly and act purposefully. Find the next great step in your career and wish your current employer the best (see our blog post about the right way to quit).