EPS vs Employee raises?

So the company I work for is doing quite well. The past several times that their stock's EPS what announced, it was higher than expected by the street. Yet somehow because we're supposed to have a flat FY07 we were all told not to expect much for raises.

I would've hoped that there would be some correlation between having a good current year and thus getting a raise. Now I come to find out that I also need to hope that we're forecasting a good next year.

I wouldn't be as upset about this whole deal if I had some reassurance that the executive staff were going to be dealt the same hand we're receiving. I've got the funny feeling that most of them (if not all) will still receive sizable raises despite the flat (aka maintain the current level of revenue) for next year.