Ok, I'm graduating this spring with a Master's degree in InfAs and was just offered this job at a consulting firm.  The managers at the firm understand that I can't start until this semester is finished and that I'm also pursuing more grad school at a Texas university.  Here's the problem.  The final application to this grad program isn't due until this Friday which also means that the selection process won't begin for awhile.  Assuming I pass the first round, interviews aren't until February and I won't get a final offer from the school until March.  I'm fairly confident that I will get admitted as my GPA and GRE compare very favorably and my current major professor is friends with one of the professors there.  There would also be a great deal of financial aid involved.
The company that made me this offer is aware I have this option. They are all very nice people and the offer is pretty generous given my location in Iowa. The person who made the offer encouraged me to counter-offer. Obviously, I want to get more money and delay my decision until March when I have an offer from the school on the table. This is obviously quite risky as my entry to the school program isn't guaranteed and I don't want to lose the current offer. However, I couldn't accept the offer and work the job without at least attending the interview conference at this school in February. I'd always regret doing that if I did. As I see it, I have a couple of options:
1) Make a counter-offer and ask for time to make the decision. I can't think of a good way to do this without insulting them and losing the offer.
2) Make the counter-offer and then sit on it when it arrives. Of course, I run the risk of them accepting my counter-offer outright and basically assuming I plan to start work there.
3) Go ahead and make a counter-offer with the plan of accepting it and visit the school and continue through the normal applications process. If the school comes back with something I like, I simply contact the company and don't show up for work. They aren't expecting me until May/June anyway. This option is enticing because it is easy but I don't want to make enemies and I am ethically against it.
I'm really struggling over all this so any help is welcome.
			
			The company that made me this offer is aware I have this option. They are all very nice people and the offer is pretty generous given my location in Iowa. The person who made the offer encouraged me to counter-offer. Obviously, I want to get more money and delay my decision until March when I have an offer from the school on the table. This is obviously quite risky as my entry to the school program isn't guaranteed and I don't want to lose the current offer. However, I couldn't accept the offer and work the job without at least attending the interview conference at this school in February. I'd always regret doing that if I did. As I see it, I have a couple of options:
1) Make a counter-offer and ask for time to make the decision. I can't think of a good way to do this without insulting them and losing the offer.
2) Make the counter-offer and then sit on it when it arrives. Of course, I run the risk of them accepting my counter-offer outright and basically assuming I plan to start work there.
3) Go ahead and make a counter-offer with the plan of accepting it and visit the school and continue through the normal applications process. If the school comes back with something I like, I simply contact the company and don't show up for work. They aren't expecting me until May/June anyway. This option is enticing because it is easy but I don't want to make enemies and I am ethically against it.
I'm really struggling over all this so any help is welcome.
				
		
			