If you are an artisan doing commodity work (read: bored at work, your open source project is fun), you are absolutely right. You are underutilized and easily replaceable, and your boss will want to replace you with someone cheaper. Regardless of the size of the counteroffer, you should leave.
If you are doing work that few others can do, and you make it clear that your only problem is money, they will accept that you looked outside just to get a market valuation. This is especially true if you accept a counteroffer lower than your external offer (i.e., "I like this place enough to accept $10k less").
But if you take a counter less than your outside offer, try to get some non-financial compensation (i.e. extra vacation, at least verbal commitment regarding a promotion, etc.)
The point I was making is that it might help to acknowledge non-financial comp you already get. I really like my job and I wouldn't work at a bank for a $20k pay raise. I don't need my boss to increase the non-financial comp if he can't fully meet a bank's offer, since I already get it.
(Our vacation policy is "don't be unreasonable" and our only ranks are "founder/owner" and "everyone else".)
Extra vacation, sure. A promotion? That depends on what you're already doing, and when responsibilities a promotion carries. I've seen several instances where people got promoted but didn't receive an adequate enough raise. If you believe you deserve more pay for what you're doing, asking to do more to get a bit more money may mean you're still on the losing end of the deal.
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That depends on the nature of your work.
If you are an artisan doing commodity work (read: bored at work, your open source project is fun), you are absolutely right. You are underutilized and easily replaceable, and your boss will want to replace you with someone cheaper. Regardless of the size of the counteroffer, you should leave.
If you are doing work that few others can do, and you make it clear that your only problem is money, they will accept that you looked outside just to get a market valuation. This is especially true if you accept a counteroffer lower than your external offer (i.e., "I like this place enough to accept $10k less").
But if you take a counter less than your outside offer, try to get some non-financial compensation (i.e. extra vacation, at least verbal commitment regarding a promotion, etc.)
The point I was making is that it might help to acknowledge non-financial comp you already get. I really like my job and I wouldn't work at a bank for a $20k pay raise. I don't need my boss to increase the non-financial comp if he can't fully meet a bank's offer, since I already get it.
(Our vacation policy is "don't be unreasonable" and our only ranks are "founder/owner" and "everyone else".)
Extra vacation, sure. A promotion? That depends on what you're already doing, and when responsibilities a promotion carries. I've seen several instances where people got promoted but didn't receive an adequate enough raise. If you believe you deserve more pay for what you're doing, asking to do more to get a bit more money may mean you're still on the losing end of the deal.