We do midpoint reviews as well as year end reviews. End of year “raises” (also called merit) are dished out between ~3-5% based on some black box algorithm that, as far as I know, no non-managers understand. Not sure if managers completely understand it either, or if they just aren’t allowed to talk about the inner workings. I haven’t had a problem with it since the range isn’t huge, and I’ve never felt slighted. Doesn’t mean it’s right but it has never bothered me.