I like my team and management. I would like to stay here and yet address the comp concerns. Promos are too difficult.
So I would like to learn from Alex, Rahul and community members here on how I should go about the retention offer.
What are the things I should do in order to increase my chances. I want to plan it thoroughly and execute it without getting burnt out.
In this economy, the power dynamic is in favor of the company. Especially since you're working in Amazon, the only way you have a chance of getting a retention offer is if you have a written offer letter from another company with signficantly higher compensation. Having this offer letter in hand is very important: if you bluff it, the company will simply ignore you and might end up treating you as a flight risk (so they'll try to manage you out).
I strongly advise against designing your game plan around a retention offer.
Here are the levers I take into account when looking for (compensation) growth: