Market rates are a function of availability. If you flooded the market with more great engineers than employers hiring, the compensation would go towards $0. Wh

Market rates are a function of availability. If you flooded the market with more great engineers than employers hiring, the compensation would go towards $0. Which in the real world is just set at minimum wage If you're in a minimum wage job, then your employer (successfully?) believes there is basically an endless stream of people who can replace you at no higher cost than what the government deems the absolute minimum Once you're in a job higher than that, the only function is what other people with your skills agree to get paid. If OP is making top of the market, their employer has absolutely no reason to give them even a $1 raise. If top of the market compensation went down, then it would make sense for anyone making top of the market to get their salary cut