[mystraline]

This has been true for at least since 2008.

The only times Ive gotten promotions was to get hired elsewhere. Better title, more money.

Its well known that retention budgets are laughable or nonexistant, and new hire budgets are well stocked. That means that if you want to grow from what youre doing, you gotta leave.

[bluGill]

Every few years companies give a large raise to everyone when they notice they can't hire people and the ones they have are leaving. So if you don't manage to find a new job it isn't hopeless, so long as enough people are leaving.

Of course if you don't leave they may lay you off at any time. However assuming that doesn't happen they will eventually give you a large raise.

[Lord_Zero]

There is no guarantee that will happen.

"Just hold out until they are desperate enough that they HAVE to give you a large raise!" is laughable.

Every single day you don't quit and get paid what you are worth, is a day you are leaving money on the table. Imagine waiting years for that big raise when you could have left and made tens to hundreds of thousands more in that time.

[bluGill]

I did not say don't look for a new job though. I said that if you can't find one. Sometimes you can't find a better job - better is more than just pay, there are other factors that may apply to you personally (ethics of the job, working hours, where they need you to work, how much travel...)

Holding out isn't ideal, but it might be the best for you.