> Dear PERSON. Thanks for reaching out. I'm happy where I am but for $Y base salary with SOME_OTHER_BENEFITS I would consider a move. Let me know if that sounds reasonable for your team otherwise I will be in touch if anything changes. Feel free to reach out again in 6-12 months either way.
This is a bit cold and focused on the money, but recruiters are usually sending the same emails anyway - as the article points out. Ultimately why waste everyone's time if you wouldn't really consider a move anyway? In the 4 months since I've been doing this, almost every recruiter that has responded has responded with "thanks for responding and thanks for being up front."
To be "honest" with this approach, put a number in $Y that would really really make you consider changing jobs. 1.5x your current salary? Double if you're super happy where you are? Maybe SOME_OTHER_BENEFITS becomes "really high equity percentage" or "fully remote" or "work 3 days a week"?
I put my $Y pretty high so most companies can't afford me, but I've got 1 or 2 companies that may be able to pay it in the pipe. Win-win.