When I left Motorola for Nokia, I did it on zero notice during the most time-intensive peak of an urgent high-visibility program at Motorola. Oh, and I was the only engineer who understood the phone's display design. My bosses were screwed and they knew it. They offered me a 30% raise on-the-spot to stay at Motorola, yet only a few months before they had only offered me a 3% annual salary increase. I turned down the 30% because I knew Moto was going down the toilet.
Ouch. Talk about burning bridges.
Some friendly advice. I wouldn't do this in San Diego or Bay Area. Despite the sheer number of companies in the Bay Area, everyone kind knows someone that ultimately worked with you. I can't count on the numerous times I was in a post-hiring meeting, when a candidate looked great, and talked great…BUT invariably someone "knew" that person at a previous company and had issues with performance/attitude/discipline/etc. This is especially the case if you plan on being in roles of higher visibility.
In San Diego, it's much worse. I invariably burned a bridge with one company, only to have it bite me when I was trying to work with folks from that company elsewhere.
As far as my big promotions and raise increases (20+%), they have always been accomplished when I moved between companies. (about 5 times over 10 years). Never been laid off (yet). Usually because, I've always moved before trouble started. And the easiest way to find a job for me was to talk to the people that I use to work with or use to manage. Funny how things work. Those that you manage you invariably work for in the future, and vice versa.
