When should I notify a current employer if I’m hoping they will match the offeri received?

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I’ve been with my current employer for 8 years and in my current role for a little over 4. It’s a great job that I’m very comfortable in. I get along well with all my coworkers and my manager, and the workload isn’t too heavy. My only gripes are that I feel like I’m underpaid and is 100% onsite with no flexibility. I recently started submitting applications to remote positions that offered my desired salary range and today i have received my first offer. The offer is for 23% more than my current salary, fully remote, and for a job that is narrower in a technical scope. Even with the differences of the job, I might want to stay with my current employer if they would match the salary because it’s comfortable and known.

My initial thought is that I shouldn’t mention anything to my current employer about it until I accept and clear the onboarding checks. There’s one or two things that would come up on a background check that I wouldn’t think would be deal breakers, but every company is different.

Is that the correct way to go about it?
Is there anything wrong with accepting an offer with the new company and then changing my mind if my correct employer gives me a better offer?
Should I even try to stay or would that just put a target on my back?

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