Larger firms and international companies tended to offer the biggest pay rises.

Other things being equal, a firm will tend to be larger:

Even those firms who have modern machines, tend to run them with software designed for earlier models.

"There is such a need that firms tend to seek out the undergraduates," he said.

In the past, the firm has tended to grow internally, making only small acquisitions.

Small firms tend to be wary of anyone who styles themselves as a general business consultant.

Large firms also tend to be old and in mature markets.

Despite corporate financial officers' best intentions, firms tend to go through various stages of growth.

Because firms tend to grow over time and so do their earnings.

As one would expect from this market structure, firms have tended to avoid price competition.