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How to handle this job offer situation

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I have been offered a job by one of the best software company (my dream company) but the salary that is offered to me is less than the salary expected by me, in fact too less than my current salary.
So I simply rejected the offer over the mail but within few days I got another descent offer by one of the firm and they are offering me descent salary package. I have accepted the offer and confirmed them about my Date of joining.
But now problem is one day prior to my date of joining the previous employer came with the salary negotiation offer and I feel they will offer me descent amount. But it may take some days and mu joining date is tomorrow.
I really want to work with that first employer.

What do you suggest? How to deal effectively with this situation?


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If you have a 3 month trial period at the start of the new position, you can inform the other company that you are not able to start for 12 weeks and use this time to negotiate an acceptable value. Better to negotiate while employed and if you reject your current job then you may end up with neither.
Consider Paul's rocket mass heater.
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