@allenschwartzmd You don't actually have a backup option; you HAD a job offer for 40% more pay and a better title. That job isn't available anymore as it would have been filled. I would start looking again, as you are not going to get promoted here.
@allenschwartzmd Also, they know you are looking so they know you not in it for the long haul, never accept the counter from your current company
Why wouldn't you take the pay jump and better title when your current employer keeps brushing it off?