Ask Steph: Offer Deadlines
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What do I do when I have an offer from one company but I'm still waiting to finish interviewing at another? I need a job, but this offer requires me to take a significant pay cut from the job that laid me off. This is also my second time being laid off in a year. I'm more excited about the other company, but if I get rejected, I'm back at square one. They're pressuring me for an answer ASAP, and I know the market is competitive right now. What if I don't get another job? I'm hearing stories of people going months and months without one.
It's reasonable for companies to put deadlines on offers– to an extent. They need to fill the seat. There's work to be done. They're trying to balance finding the right person for the role with how long they're willing to wait for that person. They want to provide a good candidate experience while also not losing their next choice if possible, too.
Just because they're pressuring you to answer by a certain deadline doesn't mean that deadline is unmovable. You can politely and firmly ask for more time. I've often said I need time to discuss with my partner or financial advisor. Or that just like they've been talking to other candidates, I've been talking to other companies, and I'd like to respectfully finish the processes there first. Sometimes that's enough to get a few extra days or weeks to wrap things up.
And sometimes it's not. In every good negotiation you have to be willing to walk away and respect your needs and boundaries. But I'd recommend starting there.
Ultimately, this boils down to one key question: how much money are you willing to risk for more time? There's an actual number that exists, and you need to sort through your emotions to find it.
