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Grass is always greener, but that being said in this current environment if you want to make more you’ll take on more. Then hopefully it will be a continual cycle on bigger increases and more responsibilities. As long as you can continue to over produce or exceed expectations.
For me the cutoff is when the stress starts following you home. If you're making more money but you can't enjoy it because you're too tired or anxious to do anything after work, the raise isn't worth it. Only you know if that holds true. If it does, there's no shame in taking a step back. WLB is important. Don't sacrifice it.
Better getting a bump than getting nothing and having more responsibilities piled on. Important to figure it out before you take it. Very hard to go back down.