It's best to ignore any objections and focus on getting paid a market rate (what other companies would pay). So something like "I'm worth $x". I find that the other side quickly stops raising objections and shifts to compromising on a $ figure. Still, jumping ship might be easier than getting a raise that's well beyond the rate of inflation.
wry smile. Nothing wrong with what you've said. But come to think of it, you've endorsed rachel's POV regarding the building up of resentment with this answer. If jumping ship is the kind of disruption one has to make for what amounts to "convenient excuses" (and the manager goes on to pay 3x more to "worthless" network engineers -- read her reply above), then I say, let the resentments boil over!
I meant that jumping ship might be easier at any company. Businesses put rigid limits on raises. If you want to make a market rate it's best to get it when hired.