Fighting Salary Compression

I have 15+ years vesting in current company/ position, 25 years over all. I love my job!
But for the past 3 years I’m told that my yearly annual increases will be decreased due to reaching a salary ceiling. 2% rate increases barely kept pace with rate of living, especially after this years 8-12% inflation increase. Also, new employees are now being hired at a higher rate.

Anyone else experience this issue? How and what is the best course of action to address?

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This is becoming all too commonplace, sadly! I’ve had something similar.

Switch companies if you can. It’s the only way to break the ceiling.

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