> Even more curious is that IT culture is basically that if you want to get paid what you're worth, you have to quit and go to another company.

From what I've noticed, companies really want to avoid raising salary of an employee in a meaningful way, because it means they will have to increase pay of others also

So 10% increase of salary of 1 employee would eventually equal 10% in crease for the whole team or company, which gets expensive.

This seems to be why they really really hate giving out meaningful raise. They'd rather lose an employee and suffer the consequences, than give 10% raise to one and inevitably end up raising salary for the entire team/company.

And yet, they want to higher senior devs, who obviously left old company to seek higher pay.