my company made a counter-offer to keep me — and now is attaching strings to it

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A reader writes:

I recently got an external job offer that was substantially above my current salary. I went to my current boss and told him about the offer. He asked me not to accept the other offer while he put together a counter, and I told him what I would need for a successful counter. He came back the next morning with a counter offer that was less than I had stated I needed, but for various reasons pretty equivalent to the other offer in terms of total compensation

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