Tell me how to say thanks, but no thanks professionally

(and I hope this is in the right forum)

To make a long story very short - I was invited to apply for a job in another department at my school and interviewed successfully for it. Word somehow got out that I was shopping and my current bosses began to suggest we should negotiate. Taking advantage of their sudden interest in keeping me around, I bluffed them about the other job somewhat and got them to agree to give me all the time I need off for classes from now until Spring 08. Life is very good right now except for one little thing - I now need to tell the other job that I am no longer interested and I have to do so in a way that does not hurt relations as I may need them for my internship later and my department works with them regularly.

So, Dopers, tell me how to say, “thanks, but no thanks” in the most professional, sincere way possible.

Tell them that your current bosses made you an offer you couldn’t refuse, and that you’re sorry, and that you appreciate their interest.

Something along these lines?

“Thank you so much for taking the time to discuss the [whatever] position with you. It’s a terrific opportunity, and I can’t tell you how much I appreciate the offer. After giving it careful consideration, however, I believe that I am best suited for my current role at this time.”

Go ahead and say “my employers sweetened the deal at my current gig when they heard I was looking.” I’ve had people turn me down for jobs for that reason and it’s not a problem.

Woops. I meant “with me.”

How’s this:

First, thank you so much for taking the time to discuss the position with me. It’s a terrific opportunity, and I can’t tell you how much I appreciate the offer. However, after meeting with [my current boss] and giving it careful consideration, I must take advantage of the opportunity to complete my degree one year sooner than planned by staying in my current position. Thus, I withdraw my application.

Again, thank you. I wish you luck in your continued search.

I recently did the same thing when I tried to quit but was given a counter-offer I couldn’t refuse.

Ditto what everyone else said. The managers I talked to and told them “no thanks” took it very well, and even encouraged me to send them my resume again if I ever change my mind. They’re used to this stuff.

You’ve got some good advice here. It’s certainly something people are used to hearing and I doubt there will be any hard feelings.

You should look at this as a strong positive. You’ve made good connections and impressed some people at your organization. Keep in touch with your new contacts. You never know when they’ll have an even better position available.

As long as you tell them something like others have suggested already, I think they will be fine with it (and actually quite pleased that you bothered to tell them, rather than just not show up.) I wouldn’t worry too much about it. You’re not burning any bridges as long as you are up front with them.