[gedy]

I think this is a cynical take, and hear it a lot from management-types.

If I go through the trouble to share an offer with a willingness to stay, how exactly is that an ultimatum? Seems there is no avenue for an employee to try and stay except silently turn down offer and eat lower pay?

[usrusr]

Go, let them know why you leave, allow them to learn that trying to pay under market can have consequences. Staying would deny them that learning experience.