I respectfully disagree: most corporations offer 2 to 3 % increase for a good year end review. In other words, stay in line, and we'll match inflation. Consequently, you'll often find the new hire for a given job title making just as much as the guy that has been there for 5 years.
In contrast, you often only get a "real" raise when you change positions, or if your employer genuinely fears your chances in the current job market - for the moment. But then the problem with that is when the job market tanks, management will look to adjust the salaries of those they had to pay a premium to keep, usually by making it unbearable for them to stay.
In contrast, you often only get a "real" raise when you change positions, or if your employer genuinely fears your chances in the current job market - for the moment. But then the problem with that is when the job market tanks, management will look to adjust the salaries of those they had to pay a premium to keep, usually by making it unbearable for them to stay.
Not every place is this volatile, but some are.