If you're just out of school, I think that kind of average is possible in certain parts of the country.
For note, I graduated in 2005, and have averaged about 8% increase per year since then. First 6 years with a Fortune 500 then changed employers, but the average applies even before my employer change.
At the Fortune 500, yearly inflation raises were averaging 2 to 3% but when you're fresh from school you get promoted on a 1 or 2 year cadence for the first few years and each promotion comes with a 5% raise. Promotions don't have to mean your job changes, just your paid grade goes up.
For note, I graduated in 2005, and have averaged about 8% increase per year since then. First 6 years with a Fortune 500 then changed employers, but the average applies even before my employer change.
At the Fortune 500, yearly inflation raises were averaging 2 to 3% but when you're fresh from school you get promoted on a 1 or 2 year cadence for the first few years and each promotion comes with a 5% raise. Promotions don't have to mean your job changes, just your paid grade goes up.