A tale of two offers

We have all heard the infamous saying, "a bird in the hand is worth two in the bush."  How about a little Office humor from Dwight to really drive the point home on a Monday?

As silly as that idiom may sound, I can't tell you how many times I have used it when counseling a candidate during offer stage.  It usually occurs when a candidate has already received an offer from a company that is their #2 or #3 option.  Their #1 option is still interviewing them (and possibly others) and may not have a decision on an offer for a couple of weeks or more.  So what is a the objective answer or guidance to provide in that situation?

I wish there were always a cut and dry answer.  It isn't that simple.  What if the candidate is unemployed?  Objectively one in the hand far surpasses two in the bush.  But does it subjectively?  What if the other opportunity provides more compensation, benefits, or career progression?

While I don't possess a magic eight-ball that predicts the future, I do have some experience working with candidates finding themselves in this unenviable position.  Here are some things to consider that have been helpful to others in the past:

1)  Admit that on some level it is a happy problem.  No, I am not trying to be a wisecrack with this comment.  If you embarked on a job search, chose to interview with two companies (or more), and one is already at the point to extend you an offer of employment, you have to appreciate that for what it is on its own.  It is likely that what you have received is at the very least equal to your current situation, if not better.  One of the first things I always tell candidates when they receive an offer is "Congratulations!"  It may sound over-simplified, but it is an accomplishment and you should celebrate that.

2)  Make a t-chart of pros and cons.  Again, this may seem elementary, but it is incredibly effective.  If currently employed, be sure to include your current situation in this effort.  What will life look like, good and bad, if you a) stay put, b) take the first offer (one in hand), or c) wait for second offer that is not a guarantee (two in the bush).  If the third option is better than the first two on many levels, then you have your answer.

3)  Tell the employer that is extending the first offer you have other interviews.  Yes, you heard me - be transparent and honest in the process.  I know many people will tell you otherwise, and there is an inherent risk with this, but there are also many benefits.  First of all, it shows you are able to be honest, even with difficult topics.  Secondly, you may be surprised by how open the employer is about waiting.  Lastly, you may see the true colors of the employer if they become incredibly defensive and threaten to rescind the offer.  Like I said, there are inherent risks with this.  But even if that worst case scenario unfolds, you might learn something about the employer's culture if they respond that negatively.

I have seen people make the wrong decision on both sides of this equation.  Some take the first offer on the table and regret it immensely right out of the gates.  Others turn down the first offer and then wait for the second offer that never comes.  At the end of the day you must reconcile that interviewing for any job has its risks.  There are, however, many rewards that often outweigh the risks.  Bear that in mind when caught in tough situations like these.