You'd have to be living under a rock to not know about the Google salary bump reported this week: Google increases employees salaries by 10% with some other stuff thrown in. Sweet.
It's not an entirely stupid move on Google's part because...wow, the PR response. Look, I would love to get a 10% salary bump. But it wouldn't be enough to make me work somewhere I didn't want to. So to stem the flow of people from Google to other companies? Probably not. Well, at least the good people. Most of those people were not leaving because of salary. Your best folks are a little more complicated. Yeah, they like money. But the type of work they get to do is just as important. They want to be excited to go to work. And work with smart people. And feel valued (of which cash comp is only a part). And have career progression. The ten percent is gravy.
My advice to anyone weighing an offer right now: look at the big picture. Ask yourself some questions. Ask the people that interview you some questions. In the future, when you drag yourself out of bed in the morning or wonder if you would have enjoyed your work more at that other company or are reluctant to go to work for whatever reason, is that 10% going to be worth it? If you can say yes, take that offer. But if you already accepted an offer from another company, be honest with yourself. Was it really all about the compensation? If so, take the extra ten percent. And good luck. And we will see you back on the job market in 3 years.
My advice: be complicated.