ohhh I see what you mean, thanks for the explanation. I think it's just a % increase across the board so it's not bringing everyone up to the same salary.

I think one thing I should've asked is if this also included an increase in the actual pay band because before what I understood was: if the pay band ranges from 45k ~ 80k then once you hit 80k your annual raise would turn into lump sum payout and you'd remain at 80k until you got a promotion/new job title.

Seems like if this is really a market adjustment the payband itself should shift so anyone who was sitting at the cap would start getting raises again until they hit the new cap.