During my annual review, I asked for a raise, based on my performance and some research I did on pay for comparable jobs. I was denied. I still enjoy my job and don’t want to move companies. I just want to be paid what I deserve. I’ve heard other people had success with presenting competing job offers to get raises at their original companies.
From my experience, it is a poor strategy to vie for another job only to gamble for a raise and will likely cause mistrust between you and your leader because this approach could be seen as hostile and may, in fact, backfire. You may end up at a new job that is not as fulfilling as your current position.
If your compensation cannot be changed, your trajectory should be an open discussion about other positions you may be interested in at the company. Both discussions may require HR involvement. Using a competing offer to get a raise is nuanced. In very specific situations this can work. However, a lot of the time, leaders get defensive. It feels personal since you’re interviewing with other companies behind their backs.Start with positivity. For example: “I love working here and can see myself growing with this team over the long term. Because of that, I want to be transparent about how I’m feeling about my pay.