Well this approach doesn't work unless you actually promote people once they're no longer junior. In my time at a FAANG, I got a 33% pay rise nine months in alo

Well this approach doesn't work unless you actually promote people once they're no longer junior. In my time at a FAANG, I got a 33% pay rise nine months in along with a promotion. That kind of behaviour engenders a lot more loyalty than CPI adjusted raises when an employee is clearly killing it.