Well let me premise this by saying: Getting more money rarely turns a bad job into a good job. If you don't like the place you work, that's the problem, and get

Well let me premise this by saying: Getting more money rarely turns a bad job into a good job. If you don't like the place you work, that's the problem, and getting more money won't solve that problem. That being said: I think you're right about getting other offers lined up. I think you should start interviewing, go out into the market, and get 3 - 5 solid offers lined up. Then bring those offers to your employer and leave it in their hands. If they won't pay you market-rate (after showing them what market rate is), then leave; simple as that.