You can strong arm companies but it really depends on what you bring to the table. I know engineers who were the best engineer on their team or at their company. They told the CTO they needed an XXK raise or they were going to leave. They did the same thing 6 months later and got it both times. I wouldn't recommend that though. They knew they were underpaid and they were critical for the success of the next 3-6 months of the company at least. The best thing if receiving another offer but you need to be ready to leave if your current company doesn't match. The other option is bringing data to your manager about your performance and the market and asking for a raise. Show salary data from other SIMILAR companies (don't show fang data if you don't work at fang) and show what you bring to the table. Normally its best to email that to your manager and ask to meet sometime that day/week about it so you can talk through those points in person. If you bring it up in a meeting they likely wont have any type of actionable response for you because they don't control comp. They need approval from someone else.