[mattwritescode]

Do nothing unless he asks or talks to you.

I regularly take a look at what developer roles are on offer. It doesnt mean I want to leave my job.

I use it as a way to see what companies are using what technology.

[AznHisoka]

Exactly. I do this all the time. One of the most under-appreciated ways to gain competitive intelligence about other companies is to look at their job ads. Of course they won't reveal everything but you can read between the lines, and see the direction they're headed.

[greggarious]

He could also be gathering data to make the case for a raise.

If he can show the industry rate is higher than he's being paid, that's better than saying he feels subjectively he's worth more.