I'm in the healthcare industry. I've worked for my company for over 30 years and I've been in my current position for over 20 years. I feel I possess a wealth of knowledge and I'm the only one in a company of over 7000 employees who can do all the things I do day-to-day. I have received excellent job performance reviews every year. I recently got a raise that put my salary at the maximum in the range for my pay grade.
I have 7 more years until my "planned" retirement. If my cap is not increased or I'm not bumped up to higher pay grade, future raises will be paid out in a lump sum but I could potentially miss out on quite a lot of money over the 7 years- not just in salary but also in how my pension is calculated, how SS is calculated, and 401k/IRA contributions (personal and corporate match). Also my salary will lose purchasing power from year to year due to inflation- we rarely get cost of living increases.
I feel that I'm compensated well but being capped I think is a problem. Looking at Glassdoor.com the high end of the market range for my position is 15% higher than my current pay grade cap. I could have taken my knowledge to the consulting world years ago and made much more than I'm making today but I didn't because I really enjoy my job and I like working for this company. I realize in the non-profit world, margins are small and the pandemic has put new strains on revenue and expenses.
But are my expectations unrealistic that my salary should not be capped? That I should receive the full benefit of yearly salary increases? If I'm the excellent employee my bosses have said I am, do I not deserve it?