In some places I've worked, HR has a hidden target total compensation for each employee. When they make compensation adjustments, they try to bring you slightly

In some places I've worked, HR has a hidden target total compensation for each employee. When they make compensation adjustments, they try to bring you slightly closer to that goal. In this case, they might drop just your salary proportionally since that appears fair, but future adjustments will be lower or zero until your target compensation is above your actual compensation.