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I second your experience, edw519. Unfortunately, often the only way to get management to loosen the purse strings is to come back with another offer from another firm. This exact situation has happened to me. Sad, really.

The problem is understanding if the inability of a given company to recognize the value of an employer is a good enough reason to move away...

Agreed. It may well be. I took the counter offer from the original company for various reasons. But it left me with a bad taste in my mouth. I'm not sure if I would have made the same decision had I had it to do over.

When a company does not value your contribution until there is a competing offer you feel a bit taken for granted and unappreciated. Any academic work in the HR/recruiting field will tell you that money is not the sole motivator or even the main motivator. Under-appreciation is a great way to lose employees.

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