I fully agree, and that's exactly what I am doing -- even if an offer from another company ends up only being a leverage to force a raise in my current company (see below for clarification). However, I am taking it slow and I am patient (even though NOT being able to randomly go to the cinema or a restaurant with my girlfriend is getting on the nerves of both of us lately; money is tight and I'm very unhappy with my current compensation) because I don't want to replace one problem with the same problem in another company. So I am picky, I am clear in my requirements, I don't accept terms I know will make me hate the job, and I am perfecting my negotiating skills during this entire process.
CLARIFICATION on the leverage remark: it's my opinion that 99% of the time leveraging an offer from another company that wants to give you more money, to make your old company give you more money, is a huge mistake. Most businessmen HATE being strong-armed, or, to use a milder language, hate being shown that their employees have power over them, and this makes them hate you even if they very much need you in a business sense. They end up actively looking for a way to get rid of you, even if it costs them more money and/or stress in the long-term. I've witnessed it.
SOURCE: 4 of my stupider younger acquantainces from 7-12 years in the past. And an observation from my first job. After I "strong-armed" my first employer to double my then pretty measly salary, he went on a hunt to replace me (even though it took him around a year to really do it), but I was smart enough to detect the signs and resigned long before he had the chance. No regrets.
CLARIFICATION on the leverage remark: it's my opinion that 99% of the time leveraging an offer from another company that wants to give you more money, to make your old company give you more money, is a huge mistake. Most businessmen HATE being strong-armed, or, to use a milder language, hate being shown that their employees have power over them, and this makes them hate you even if they very much need you in a business sense. They end up actively looking for a way to get rid of you, even if it costs them more money and/or stress in the long-term. I've witnessed it.
SOURCE: 4 of my stupider younger acquantainces from 7-12 years in the past. And an observation from my first job. After I "strong-armed" my first employer to double my then pretty measly salary, he went on a hunt to replace me (even though it took him around a year to really do it), but I was smart enough to detect the signs and resigned long before he had the chance. No regrets.