It entirely depends on the kind of job. I can say from personal experiences I've been at employed at places that were better than average in these regards to where raises were nonexistent. I recently left a job where even the most exceptional employees can only get a 2% raise at the absolute most. Hightailed it out of there as soon as I got a better job that actually cared about employee retention.
That's what the free market comes down to: Choice. Let employers bad choices cause potential employees to go elsewhere. The employer can either fail, or step it up and be competitive.