In the Bay Area market rates (and cost of living) were rising at 10%+ per year for several years. Add an adjustment for experience, and the average raise for ne

In the Bay Area market rates (and cost of living) were rising at 10%+ per year for several years. Add an adjustment for experience, and the average raise for new employees should have been 20% or so to be market-competitive. But almost no companies did this, hence tons of job hopping.