Hahahaahahaha, what a bunch of horseshit. Here's what's really happening (or rather, what's not happening): Wall Street's pay grade model has turned into "Jump ship or get fucked".
So people jump ship. End of story. Banks don't want to give people raises, so they leave after a period of time for a new position that does give them a raise.
So people jump ship. End of story. Banks don't want to give people raises, so they leave after a period of time for a new position that does give them a raise.
Pretty much every firm does it.