I just went through this earlier this year. I was given a lead position but they didn't even ask or talk to me about the raise, they just decided 6% was enough. After a month (and also finding out about company defined pay ranges which I was well below) I told them either bring me up in to the expected range or drop me back to senior since the raise was not worth the extra headaches.
The actual raise was more like 33% once they agreed, so yeah, if it's a large increase in responsibility and headaches, and you're not going to use the new title to go find another job in the near future, I would not take it.
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