Is this natural dynamics in an increasingly large company? As a company grows, individual's impact diminishes and so does visibility, and revenue per employee dwindles. Consequently, resources increasingly concentrate to the top. That's why we hear Microsoft's engineers below level 68 complain about pay, and Amazon's entry-level engineers are known for their relatively small package. Ebay's situation was probably even worse, as their business stopped growing fast long ago.

All the more reason for working for a blow-out small-to-medium-sized company, except for those few who are truly good at climbing up corporate ladders. The accumulated chance of getting outsized equity return is larger than working for a big company.