profit. This is why most companies exist (excluding non-profit).

I do not fault them for trying to maximize shareholder value.

And yes you are correct. MOST times the only way to get real increases in pay is to change jobs.

I caution people however to be careful when you stay at your existing company if they match your new job offer. Often times they are only willing to 'match' the offer until it is convenient for them to replace you on their terms. Thinking if they were looking to leave once.. they clearly aren't happy here and will likely look to leave again. I've seen it happen at a previous job I had. The old company matched the new companies offer. The employee stayed. 6 months later they let him go on a Friday. His replacement started on Monday. So basically they just waited and did it on their terms. Horrible. But it happens.