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Can a Company Offer a Raise If I Mention I'm Leaving?

Dear Experts, My company is underpaying, other peers are getting new jobs at much higher salaries, and my boss is getting really worried and personally asking employees if they are happy or not. I'm happy with the job but I'm underpaid and need a raise. I'm looking for other jobs but it's only because of the low pay. I'm considering telling the company I'm looking so they get worried I'll leave and offer me a raise. Is this a smart idea? Here is how our CAREEREALISM-Approved Experts answered this question on Twitter: Q#382 Look at the big picture. Is the company sound, do you love the work? If yes the good stuff will follow. (@thejobgenius) Q#382 No. First put together a solid case for why you deserve a raise and pitch it. If they say no, then look elsewhere. (@gradversity) Q#382 Good tactic, but make sure you have an offer from another company first. Don't bluff. (@JoshuaWaldman) Q#382 Find another job if you're underpaid. If they WOULD pay you more with a threat, why not do it now? (@beneubanks) Q#382 Raises "under threat" usually future raises granted early & put UR loyalty into question. Don't threaten. Perform & earn. (@DawnBugni) Q#382 Completely agree w/ @resumeservice. Just be honest about the situation & back up your request. (@heatherhuhman) Q#382 Rather than threatening, ask 4 a meeting. Articulate & document ur achievements. Tactfully request a pay increase. (@resumeservice) Q#382 Danger! Unless your ready for them to post your job. Ask for raise by showing your value, market info re pay. (@juliaerickson) Our Twitter Advice Project (T.A.P.) is no longer an active campaign. To find an answer to the above question, please use the "Search" box in the right-hand column of this website.