I mean if the market rate for the job you were doing is $70k, and all of a sudden fresh college grads are getting paid that at your company, it doesn't mean that you'll now get $100k elsewhere if you leave. If that is the case, you should have already left.
Now if you were already being underpaid and you were staying at the company for some other reason I could see bailing when others got a pay bump regardless of their contribution.