[meddlepal]

I would not recommend the raise strategy unless you have a very impersonal relationship with your manager OR you're 100% willing and able to walk (e.g. offer is in front of you and can be signed that day).

Managers are human beings too and don't like being put at gunpoint by their employees. It's very much the nuclear option IMO.

[venomsnake]

If I had good relationship with my manager, he would have offered a raise without me having to ask for it.

What is your leverage if you don't have competing offer?

[jacalata]

Your willingness to quit.