I cannot count the number of times I have been told, yes we know you are working more/harder/better than others in your field but we cannot go over the salary range for that job title and no promotions right now. Pay the workers that produce and fire the ones that don’t. Simple plan that works.
Had a conversation alone those lines once.
Was told “Yes, we could pay you more. But that is a big cost that never ends. What will we do when the market goes down? Red, just accept you are at the top end of your Hay grade. Maybe we can give out bonuses again sometime.”
Left that job.