Have an offer, how to ask company for a raise
I have an offer in hand, and my appraisal are yet to happen, how do I take this offer and increase my compensation in my current company.
What are do's and don'ts here?
You get an offer to move on, not to ask your company to increase compensation. So your approach is wrong here.
Not true, you can get an offer and negotiate to increase your salary and band
Agree with you, shouldn't stay at a company by showing counter offer. This will cause problems in long term. But I guess the OP is not open to suggestions that doesn't align with his thought process.
whatever you do you will be exposing yourself and putting yourself in a weaker position. If you do not like something you should switch, best option here is to put down the paper, and tell them you are leaving only for more money and say nothing else in your notice period. Let them come back if you are worthy for them otherwise move on
You will need to take a risk. You talk with your manager and when asked say you are leaving only for the reason that someone else is paying you better. If your manager is interested in keeping you they will give you a counter offer in salary and or level growth. If they are not interested, then you actually resign and move to the new company. This is a risky path so dare to do this only if you are ready to resign and go (don't bluff).
BTW, if you choose to stay after the negotiation with the current manager, then inform asap the new company that you cannot join. They may blocklist you for the future but an early information might get seen as somewhat responsible action from your side and they might not blocklist you.
