Need your thoughts.
Current job: Sr. engineer, 5 direct reports. Promotion upcoming to manage a new service offering. 12-15 direct reports in the new role. In the office 2 miles from home, possibility of 2 days a week from home. Timing of promotion and future salary TBD, but I suspect they'll offer 10% raise.
Interviewing for new job elsewhere, didn't search it out, they contacted me. Was initially a principle engineer role, but I didn't fit all of the desired qualifications, so they said they'd consider me as senior engineer. I said no. They call back several days later saying they've retooled the role and would like to proceed with principle engineer. No formal offer yet, still one more round of interviews, but clearly the hiring manager likes me. 25 mile commute, 2-3 days a week from home. Salary and benefits TBD, but I suspect a 15-20% raise with loss of 1 week of PTO.
I can't decide if I want to continue with the potential new company. I like the upcoming role at my current company. It's a nice step up and I'll be formalized as the expert I my company in a specific area. I'd also feel crappy leaving right now given that they're building this role for me. I plan on trying to negotiate the salary since I think they'll low ball me a bit. And I'm going to push for the promotion soon rather than towards the end of the year as I suspect they're planning. However, the other job will have more variety and present a new challenge. I suspect it will offer more money, at least initially. There are some other advantages as well in long term career terms. For now I plan to continue with interviews and see if I get an offer. I don't like the idea of leveraging an offer from the new company to get more money at my current job, but that is one possibility.
Thoughts? Considerations? Advice?