[amiga1200]

Quite simply, you’re not valued. Good managers know about the risk of churn, bad ones don’t care. I’ve found familiarity breeds contempt (of remuneration) which can be impossible to overcome. Start applying for jobs with the % increase you’re looking for.

[atraac]

I had an awesome manager/lead in my last semi-corporate job but there are no miracles, they can't go above certain threshold. Within big orgs there are brackets they have to adhere to, even if they know you're a flight risk. Corporate mechanisms don't care, everyone understands that it will cost MUCH more to hire and onboard someone new. Particular people do care, just not the org itself.