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I agree with the comment above, it definitely depends on what the pay is looking like. If it is going to raise your base salary significantly, I would go for it. Otherwise you are going to start to feel stuck at your current company.
Is the raise significant enough to justify an increase in workload? Do you feel like you can mentally handle more on your plate? Are you interested in the position? A stagnant job seems dull to me, but what’s your gut telling you?
Like others said it definitely would have a lot to do with money.