sales background so i'll be blunt: the "competing offer" is not the only leverage you have. it's just the laziest.
i've negotiated up on 4 offers in my career and only one of them had a competing offer attached. here's what actually works when you don't have one.
1. your alternative reality is still an alternative.
"i'm not actively looking to leave, so i need the number to make this a clear yes" is legitimate leverage, even if you didn't have another offer in hand. you had a job. that's your BATNA.
2. market data is your anchor.
pull Levels.fyi, Glassdoor, LinkedIn Salary, a few job postings. if the current offer is $30k below median for your role and location, say so. cite your sources. "the market data i'm seeing for senior AE roles in this segment runs $220-260k OTE. the current offer at $195k is below that range. i'm excited about this role specifically, can we get closer to $230?"
that's it. no bluffing. no invented offers.
3. specificity signals confidence.
vague counter: "i was hoping for more." weak. specific counter: "i'd need $228k base and $50k additional RSU to move forward." strong. specificity reads as someone who knows their number, not someone fishing.
4. name the number first.
old advice said "let them name first." in a buyer's market for candidates, i think this is wrong now. name your number. anchor high but not absurd. if they push back, you have room. if they say yes immediately, you left money on the table, but you got the job.
5. the fallback ask when nothing else moves.
if base is truly stuck (band ceiling, HR policy, whatever), ask: is there flexibility on sign-on, RSU, or start date? at minimum ask about the first performance review timeline. some companies will commit to 6 months instead of 12 for your first raise cycle.
you don't need a competing offer to negotiate. you need a number and a reason.