IBM, for example, doesn't do yearly raises- you either have to go out of your way to negotiate (i.e. threaten to leave) or you have to apply to go to the next b

IBM, for example, doesn't do yearly raises- you either have to go out of your way to negotiate (i.e. threaten to leave) or you have to apply to go to the next band. I've also seen this at Cisco, and I've heard that Amazon does this as well. In fact- at Amazon I've heard the opposite of what you're claiming (I've heard this sort of culture referred to as 'up or out')- after a few years you've exhausted your signing incentives (primarily stock options that vest over those few years) and if you stay in the same role for a long time, your total comp will actually decrease