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Are we all fucked?

What’s it like producing at 360i NY?
Food/bar recos in CHS?
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My sentiments exactly. The agency has the money, they’re trying to short change the staff to pad their bottom line. If you receive an offer from a competitor with the salary you want (and from your post it sounds like you’ve gone above and beyond you responsibilities) then they’re forced to fairly compensate you. So many agencies are pushing back on competitive salaries now because of the pandemic, they’re looking to create a legal corporate sweatshop. Get another offer and decide if you’ll stay at the agency you’re with for a salary bump or if it’s time for a change scenery (or at least title and corporate email while the world is still largely on time out). Don’t second guess yourself, advocate for what you deserve.
Didn’t see the other responses and your extra input as I was writing this but... Prepare by having a backup plan. Interview elsewhere and have other irons in the fire. Then gently let your current shop know you are aware that by market standards, you are underpaid. Maybe they will say why. But if you aren’t satisfied with the answer, walk away nicely and take another job as soon as you can. This is a typical problem in the agency world. Agencies pay only what they think will satisfy talent, right up until it doesn’t and the talent gives notice.
Sounds like you’re ready to go so
Pro
Lol sorry if I seem upset.
Doesn’t always work but one way is to ask what is expected from leadership in order to get that raise. Even if you don’t agree with the way, there needs to be one and it varies from place to place. Some might say awards, some might say new business, but at least it gives you a direction even if the direction makes you look to another place. Just don't make it only about the number because it's easy to say there is no money.
Pro
I’ve done this before, never been able to get a clear path forward from my managers. Beyond that, I’ve seen them yank people around with this by adding new objectives when people reach the end of their path to a promo. There’s no good will with these people, and I’m not terribly keen to give them an inch of leeway.
Pro
Already looking for mew jobs and actively interviewing. I have enough in the bank + a constant enough flow of freelance work to walk now.
Tbh, the main reasons I haven’t yet is because my significant other also hates their job and they deserve to leave and be on my insurance before I deserve to leave and be on theirs.