Let me rephrase it as I understand it: ask for a raise. If you get it, then look to get another job where you can get an even higher raise. If you don't get that other job, then stay. If you don't get a raise in the first place, either stay or look for another job.
Leave because you don't like your job, or because you'd really rather being making more money elsewhere doing something else. If you like your job, give your employer a chance to pay you enough to keep you.
Let me rephrase it as I understand it: ask for a raise. If you get it, then look to get another job where you can get an even higher raise. If you don't get that other job, then stay. If you don't get a raise in the first place, either stay or look for another job.