If you want it to advertise your skills however, in my experience it works well.
Rather than climb a corporate ladder, you can try yourself at some interviews and see if you get a better deal elsewhere.
Typically, larger companies won't offer a raise by themselves, and you have to show them a counteroffer for them to listen.
But you can also take the counteroffer if they don't update your pay.
If you want it to advertise your skills however, in my experience it works well.
Rather than climb a corporate ladder, you can try yourself at some interviews and see if you get a better deal elsewhere.
Typically, larger companies won't offer a raise by themselves, and you have to show them a counteroffer for them to listen.
But you can also take the counteroffer if they don't update your pay.