diff --git a/sqlmesh/dbt/builtin.py b/sqlmesh/dbt/builtin.py
index b8180bc011..145e29a96c 100644
--- a/sqlmesh/dbt/builtin.py
+++ b/sqlmesh/dbt/builtin.py
@@ -50,6 +50,22 @@ def warn(self, msg: str) -> str:
         return ""
 
 
+def try_or_compiler_error(
+    message_if_exception: str, func: t.Callable, *args: t.Any, **kwargs: t.Any
+) -> t.Any:
+    try:
+        return func(*args, **kwargs)
+    except Exception:
+        if DBT_VERSION >= (1, 4, 0):
+            from dbt.exceptions import CompilationError
+
+            raise CompilationError(message_if_exception)
+        else:
+            from dbt.exceptions import CompilationException  # type: ignore
+
+            raise CompilationException(message_if_exception)
+
+
 class Api:
     def __init__(self, dialect: t.Optional[str]) -> None:
         if dialect:
@@ -411,6 +427,7 @@ def debug() -> str:
     "sqlmesh_incremental": True,
     "tojson": to_json,
     "toyaml": to_yaml,
+    "try_or_compiler_error": try_or_compiler_error,
     "zip": do_zip,
     "zip_strict": lambda *args: list(zip(*args)),
 }
diff --git a/tests/dbt/test_transformation.py b/tests/dbt/test_transformation.py
index e519713d26..304ac57731 100644
--- a/tests/dbt/test_transformation.py
+++ b/tests/dbt/test_transformation.py
@@ -1592,6 +1592,29 @@ def test_exceptions(sushi_test_project: Project):
         context.render('{{ exceptions.raise_compiler_error("Error") }}')
 
 
+@pytest.mark.xdist_group("dbt_manifest")
+def test_try_or_compiler_error(sushi_test_project: Project):
+    context = sushi_test_project.context
+
+    result = context.render(
+        '{{ try_or_compiler_error("Error message", modules.datetime.datetime.strptime, "2023-01-15", "%Y-%m-%d") }}'
+    )
+    assert "2023-01-15" in result
+
+    with pytest.raises(CompilationError, match="Invalid date format"):
+        context.render(
+            '{{ try_or_compiler_error("Invalid date format", modules.datetime.datetime.strptime, "invalid", "%Y-%m-%d") }}'
+        )
+
+    # built-in macro calling try_or_compiler_error works
+    result = context.render(
+        '{{ dbt.dates_in_range("2023-01-01", "2023-01-03", "%Y-%m-%d", "%Y-%m-%d") }}'
+    )
+    assert "2023-01-01" in result
+    assert "2023-01-02" in result
+    assert "2023-01-03" in result
+
+
 @pytest.mark.xdist_group("dbt_manifest")
 def test_modules(sushi_test_project: Project):
     context = sushi_test_project.context