The thing is, I have already started talking with the other company, and while I was very open that I am not decided to switch yet (and technically I would have until the end of the month to decide due to my country work regulation), I feel I can quickly get on a thin ice.

My main concern is, that even if decline the new offer, it is highly probable that I would like to work for the company some year down the line, and even if I accept it, I don't want to burn bridges with my current team.

Currently I have really stellar colleagues, an interesting project that will finish in few months (that I want to see completed and would kick-off a larger project for another year) and the company is one of the best employers around.

On the other hand, some of the decisions of our managers are questionable, product we develop borders on consultancy-ware too much, releases have been of varying quality and our team is consistently understaffed. I am part of initiatives to fix these problems, but I know it will take at least two years to get there.

The prospective employer has few of my good friends from college, and currently want to focus on polishing their product to attract customers beyond early adopters, while winding down feature development somewhat. I know I am in better negotiation position w.r.t. compensation with these guys.

How would you go about it?

When should I tell my manager I am in talks with other company?

Is it acceptable to use this to get a raise in my current position?

How long is it acceptable to sit on the fence while in talks with the new company?

Thanks!