I work as a software engineer with few years experience, being hired on a junior position and having since then getting two consecutive promotions and considerable raises (at least 8-12%) each year. For last year I got a bonus that goes around 45% of my annual net income. However, given the fact that I started with a very low pay on an entry level (at that time I didn't even finished my studies), taking all this into account I am still sitting with a yearly income of around 55% of what I am worth.
Now, during the past few months I got contacted by a company with which the discussions are now almost finished and everything went absolutely perfect; they are now only waiting for my final requests to finish the negotiation after which I am very confident that the final offer will be at least twice as my current yearly income and could potentially go as far as being almost three times bigger. It would also be a more interesting job and I will be more engaged in my new work there.
The catch, however, is that I have to move to another city (the difference in cost of living is just around 11%) and right now I have personal constraints that would make this very hard to do; realizable but highly uncomfortable.
The question is, would it be OK to mention this offer when telling my manager about my resignation in the hope that I can bait them into a negotiation where I would have leverage and the upper hand, although I know they are somehow rigid? Anything above 35% raise would definitely mean I could spend two more years here, which I want to do for personal reasons.
I find it to be somehow unprofessionally to say you leave for a bigger wage and I really want to leave without burning bridges so I am uncertain if it is a wise step to take.