@nixCraft getting a job somewhere else. Has universally been my fastest way to a raise, and what I've tended to advise people to do. Employers rarely demonstrate loyalty these days.
I've seen many employers spend more on recruiting a replacement rather than giving a colleague a raise.
The best I once saw, after 3/4 of the team had quit, got a job offer (for comparable pay) then turned around and demanded a 3x raise or they'd leave, leaving the company with no-one in the team, it worked.
@nixCraft also, nothing screams you're employer is awful, than being happy at finding a good candidate under market rate.
A few times, hiring, I found great people who asked for way less than they deserved. I told the company to offer them what they're worth.
The good places did, and we ended up with a great person who felt valued.
The bad places did not, and we ended up with a great person who ended up feeling cheated.
I wish more companies could understand treating people well is good.