re: Using a job offer to get a raise at your current job: Advice?

All I can say about this is that I have gotten raises that have my salary way above what it would have been if I had left for 5% raises at other companies. If you work hard and add value and your company is reasonable, it will pay off to be loyal. Now, if tehy aren't willing to promote or pay you what your work is worth, then they aren't holding up to their end. Being a job-jumper every time you can grab a 5% raise is not a smart way to build a career.

How many times is it smart to pull this stunt in your opinion? Monthly? Every time you hear about an offer to make 3% more than you are making now? Tell me how terrible my advice is. Please.