> I think the reason is that big raises are not sustainable over time. I would add that new hires are seen as solutions to a problem that desperately needs a s

> I think the reason is that big raises are not sustainable over time. I would add that new hires are seen as solutions to a problem that desperately needs a solution, unlike old employees who are just there doing their work. A company looking for a new hire is not in the same negotiating position as a company that isn't.