Ask HN: Tell company I am getting actively recruited?

You can also take those interviews, ace them and use a higher offer as leverage, but that can be risky, as you company might say no and you need to go to this other job.

What I recommend is that people even though that they enjoy their jobs, they do interviews for perceived good companies, that they would like to work on, and in case they get an offer, they negotiate with their own company. So if the company doesn't want to give you that raise, you go to the other company which gives you a potential good outcome for both possibilities.

Since you do not have an actual offer and you are not going to leave the company, you should not try any tactics in negotiating a raise. Your best play is to make a case based on the value of your work and ask politely and hope for the best. This will not get you a big raise, but it may get you a modest one.

This is not the optimal position for you in terms of career development, but it is the position you are putting yourself in by wanting to stay in your current job regardless of potential opportunities externally.