I received an offer for a new job, with about a 20-25% pay raise.
I enjoy my current job, but hadn't gotten a pay raise in 2-3 years and didn't expect one this year. Before I accepted the new job, I asked my boss when reviews/raises were and what I could expect and got a non-answer.
So I decided to accept the offer from a new company. When I told my current company that I was putting in my notice, they scrambled and went into motion to try to give me a pay raise to match the new offer. Fairly typical story from what I've read online.
I've also read that it's unwise to accept a counter-offer. However, I have several reasons for wanting to stay.
1. I do enjoy my work and the company, and the money is by far the biggest reason I looked elsewhere.
2. Current company has slightly better benefits
3. Current company is a "big name" in the industry
4. I am in a notoriously mercenary industry, where it's not necessarily a negative to be "all about the money"
The new company is quite small and unknown. I'd never heard of it before interviewing and no one in my current company had either. As a small, private company there is probably less overall turmoil and restructuring risk, and more room for growth. There are also downsides with that model -- less name recognition for getting the NEXT job down the road -- or the company struggling, but I wouldn't anticipate those being huge issues in the near future.
All things being equal money-wise, I would rather stay. Would I be a complete idiot to accept a counter-offer if the money is a wash? Is it a huge no-no to rescind a signed offer letter? Anyone been through this before?