[WalterBright]

Negotiation skills apply about everywhere in life. Not learning them can get very expensive.

> I have an offer from the other company

So take it!

> Can you be flexible with the base pay?

A better way is to make a counter-offer. May I recommend the book "Never Split The Difference" which has a lot of good information about negotiating. Remember your most important power is being able to walk away.