
Annual raises are below the inflation rate. So the best way to get a meaningful raise is to advance your job title. If you are comfortable where you are, your compensation will stagnate.
They attempt to be transparent. No enforcement of the chain of command. Leadership approachable with feedback (but do not expect your problem to be solved quickly, the reality is - they do not have much effect on the low level where the work is done)
The company is trying to get ahead of the competition and it requires a lot of new features pushed fast to win these contracts. But on the other hand, unlike VC-funded competitors, with money thrown at them, Blackboard can not just keep hiring or raising compensation to keep key employees.