But there is some truth to the concept. Once a certain threshold is met, I look for the perks of a healthy employer relationship. And if the emotional salary is very low, I’m going to start considering alternatives even if I don’t get a pay raise.

The issue is that jackasses will try to apply this across the board, just like every other “management” technique that includes anything other than paying your people more.

To be clear, I’m not disagreeing with you. I’m just mad because this kind of shit defined the first decade of my career. The company that did it got bought out and the folks at the top got a fat payday while the rest of the underpaid “we’re all family here” got let go.