I do agree that it is negotiation, but it IS a risky play. While you are negotiating, you have leverage. But it is time dependent leverage. If you stay, you los

I do agree that it is negotiation, but it IS a risky play. While you are negotiating, you have leverage. But it is time dependent leverage. If you stay, you lose, not all, but a large part of that leverage. If you do stay AND they decide that you are a risk for THEM, they may make moves to make them less dependent on you and at some point may RIF you or move you out in some other way and at that point you may not have a fallback option. While it is true that you are a great employee and someone will scoop you up eventually, when you are looking for a job and are currently not working, you LOSE leverage with your new potential employer. It is human psychology that you appear more attractive to an employer when you currently have a job than if you don’t. This puts you at a disadvantage going forward. I am not saying don’t negotiate with your current employer for a pay raise, but leveraging another job offer does come with some risks you should be aware of. Some employers can see it as “burning a bridge” (I don’t agree with them, but it happens). Personally what I do is try to negotiate without a job offer in hand (never threaten to quit) and if they don’t give you a good-faith pay raise then start looking for a new job then. It can take a year or more to find a good job you want. Then quit. They have already shown you that they don’t value you enough to pay you more. Paying you more under duress often does not end well.