[nilkn]

It worked out for me long-term. It really depends on a lot of factors. In my case:

* I didn't actively seek out employment elsewhere. A place I'd interviewed at and turned down in the past contacted me again after they'd finished a large fundraising round. They had a new office, and I was curious just to see how they'd progressed. The whole thing happened fast and they ended up offering me a 50% raise.

* I preferred my current workplace in basically every way except for money.

* I had a great relationship with my boss, who also held a lot of power in the company.

* I wasn't really "just another" developer at the company but was doing some pretty important work.

They matched the offer (exceeded it, really), I took the counteroffer and stayed, and two years later I've been promoted two levels and given multiple further raises and bonuses.

[jimbob21]

Well that's the difference then, you were headhunted and they wanted you to stay. That isn't perceived disloyalty, it is the exact opposite: you wanted to stay there but be compensated the same way.