It's a matter of framing the ultimatum correctly--explain that you've got an offer, and though you really would prefer to stay, you don't see how you can pass t

It's a matter of framing the ultimatum correctly--explain that you've got an offer, and though you really would prefer to stay, you don't see how you can pass this up. Say thanks and let them know when your last day will be--they'll either come up with the idea to make a counter offer on their own, or they won't and a raise wasn't in the cards. For this to work, however, you do have to be willing to actually leave. If you really just want a raise, better to just ask for it--you can use the offer to explain what salaries for someone with your experience/skills are.