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In the past I've been burned by an employer with stagnant wages. After 8 years with this otherwise good company, I left that employer and am nearing my 3 year review with my current employer. My wage increases at my current employer have been moderate at best, but I've been told by my boss that I've really grown into the position and have also had some strong suggestions that another department would like to hire me. So I think I'm doing well. I like my job and my boss but it is a frustrating place to work sometimes.
The problem is that the job market seems to be heating up and it's looking like I could get more money elsewhere. I've gotten 5 offers for interviews in the last month. Can these offers be used in any way to my advantage to negotiate higher pay? Can I use this as a bargaining chip without looking like I'm threatening to leave? Important point: I would try to make it clear I am not looking, but it's clear there is demand in the marketplace for my skills. I generally like my job and have a good relationship with my boss and don't want to ruin it, but I also think he might be a little afraid I'll leave.
FWIW, I'm 40, an engineer, probably mid-career or more, with a bachelors and technical degrees.