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I wouldn't.

If you were able to receive one offer without looking then surely you can get another offer if you were specifically looking for another job in SF.

Though it's good to love your job, it's also important that your time in your job is financially providing something more than just a paycheck. You should be able to put money away and enjoy the time that you aren't working as well. Getting paid just enough to cover your cost of living is no fun and stressful. What do you do if they go under? If they really recognize the value that you are bringing to the table, then they should be paying you enough to make this an easy question.

It sounds to me like this offer has perked your interest for moving on and that perhaps you haven't considered this before. Perhaps you should look around for other opportunities and at least get some competing offers. Maybe you could even do something as a remote developer (just don't apply to Yahoo!) somewhere.

ETA: If you want to scratch an itch, start a side project or find an open source project to contribute to.




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