I changed jobs a little over one and a half years ago because I wanted a more technical role (I'm a junior SW developer now, before I was a developer using a low-code platform). I even took a few percent cut out of my total compensation to make the switch and I enjoy my current job more.
Our company gives raises every half year - December and May. I didn't get a raise during first wave of raises (May 2018) because of my performance, which I managed to fix and my managers have been satisfied with me for over a year now. Unfortunately, the company got into financial issues and didn't give any raises last December and only gave raises to a few exceptions this May. I was one of the exceptions, but I believe I'm still earning below market rate. My boss wanted to give me double the raise I received, but our big boss denied his initial suggestion. I told my boss that I expected a bigger raise and he said I still can talk to our big boss, which I'm not comfortable with. It's also not clear when will company's financial situations improve, so I might see a limited or no raise again in December. I'm also afraid I'm less likely to be promoted in this environment.
So I've been seriously thinking about switching jobs with money being the primary motivator. My problem is that I'm not sure how to approach this correctly. Should I talk to my boss and make it very clear that I'm not satisfied? Is it a good idea to mention this when interviewing or should I completely focus on other reasons why I'd like to make the change?