One thing that (most) people ignore is the risk involved in switching jobs. Let's say you make 100K today if someone offers you 120K that's a 20% increase. BUT

One thing that (most) people ignore is the risk involved in switching jobs. Let's say you make 100K today if someone offers you 120K that's a 20% increase. BUT, what happens if you get fired or quit after 2 months. How long will it take you to find another job and how likely are you to match that 120K or 100K? If the answer to that question is not "a week", the job move should make sure this risk is smoothed out. Usually but a signing bonus on top of the pay increase or something like that. Not saying that every job should have a signing bonus or that you should hard require it, just saying that pay increase is not the only thing to look for.