This seems to be a simple question but there are many factors to be considered IMO:

1) How much better is the pay? 20% more? 50% more?100% more?
For me I jump only i at least got 20% more or if I am greddy 50%

2) Company wise and environment
Which company do you prefer? ur current one or the next one? u also have to consider the stability of the company. Like me I am in MNC now, if the next company that offers me more money is a chinaman company, I want it to be 80-100% more than what I earn now knowing full well the reputation of these companies.

3) Job scope
Are they the same job scope? Which do you u prefer and which one has higher chances of moving up?