There's a quote: "If you owe the bank $100, you've got a problem. If you owe the bank $100M, the bank has a problem." Here's a tweaked version. If you can't ge

There's a quote: "If you owe the bank $100, you've got a problem. If you owe the bank $100M, the bank has a problem." Here's a tweaked version. If you can't get a raise, you have a problem. If a company can't pay its employees market rate, the company has a problem. I pretty firmly believe that if money is tight at a company, paying fewer people more money (and setting higher expectations around performance) is the way to go. Otherwise you end up with top talent leaving and those left feel entitled to not give 100% (because they aren't being paid 100%).