Management response, we need to be competitive to get new talent.
However when it comes to existing talent in the system, that are pulling weight and even teaching these new hires to come upto speed -- we do not have enough budget in this cycle, we can only touch a few.
By the time the thier chance comes, they are so behind the market value. The only way to get paid fairly for your skill is leave.
Looks like common problem in industry, in Cisco is more prevalent.
‘‘Twas ever thus.
I haven’t been in the market for a while but there was a time when many companies would offer over $100K for no experience and under $100K for experience. Add it to the pile of reasons so many companies fail.
In many years at Cisco I rarely saw anyone “teaching these new hires to come upto[sic] speed” because the senior people lacked even the most basic skills of their own. When I was a summer hire at another company before the year I graduated I was trading and arguing papers with a Principal Engineer with a PhD and while he taught me more I was able to teach him as well because I had exposure to things that he didn’t happen to be exposed to. Cross training should be expected at every level.
The reality is most people plateau which means their value stops increasing. That and at most companies in competitive industries salaries are bound to some extend by revenue per employee which means if you want more money the onus is on you to become more valuable and change jobs if needed to both develop and exploit that value. Aggressive kids with skills and opportunity can make Senior Engineer in under 3 years out of college. If you’re doing the equivalent work at 50 for more than $50K/yr more (Cisco had Principal and even Distinguished Engineers fitting this description so go by your work, not your title) you really should be prepared for a compulsory retirement rather than a raise.
That's what happens when raises don't keep up with cost of living. If you are a old timer get out of Cisco you are under paid.