The only way to get a raise is to come with a competing offer. There are piles of dead wood in my group and nobody is terminated. I am in the company for over 7 years and have seen only one person getting fired and because that person did outperform for 5 years! The promotions happen to make you happy with a higher title, but that does not mean more responsibility and neither salary raises. The executives get the raises and you do not. The bonus is a big chunk of your pay but the bonus pool gets underfunded ALWAYS. If you move from level 1 to level 2 (for example) your bonus increases from 15% to 20%, but your salary does not increase but management makes you think this is a 5% bump on your salary. They use the "dive and save" strategy and they will only bump your salary if you have an offer in hands.