I had a team member do this. I got my bosses consent to counteroffer 30% higher. But I told him that the HR letter for the pay increase will only be made available if he can let me have a 3-second glimpse on the 30% stated in the offer letter (He wasn't that good of a coder, 15 % at most). He couldn't produce it.

He ultimately left and joined the other firm.

nowadays - some offering company won't give you the offer letter, as they know you will use it to go back and request for counteroffer.

offering company may just let you have a copy when you are there to sign on the spot. current companies may also ask for a copy to sight, if not they wont counteroffer.

so depend on what type of companies you currenty are dealing with.

So to summarize, you want to stay in current company but trying to nego for revise in salary.

It is like you table down but before you do that, consider how much of a valued employee you are and how much lower you're being paid compared to the market rate out there.

1. If you're a big contributor to the company and you've got a pretty pivotal role in the department - ie. some sort of skills that's harder to replace, or you've been around so much/ so long to solve a lot of company issues and the company find it difficult to find a replacement for your role, then by all means give it a shot.

2. If you're really underpaid or merely hitting the low/ near mid range of the average market salary bracket (and you KNOW the company could pay higher), it may be a risk worth taking.

Best case scenario is that you're both #1 and #2 serving this company. Your success rate is higher in negotiating for what you want.

Because otherwise, there's a good 50% chance they're willing to let you go even if you show them the other company's offer letter. If you're someone holding a role with common or medium skill, whereby the manager/ HR may find it no issue to get a replacement - then this is a risky move for you. They may even think its not a bad idea to replace you with someone fresh to get in new ideas or bring additional skills/ value to the dept. It is troublesome to train people, but if you've got some bad habits that they're not happy with, they may welcome the idea that you're voluntarily leaving.

So when you present another offer letter in the negotiation, be ready to fight for what you want (tell them why you deserve the salary revision, what you can contribute more to the company if they give you what you want) and at the same time, also be ready to pack up & leave.

You'll know your situation better.