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Rising Star
Your pay rate should increase every year to align with inflation rates. If it is not, then you are actually taking a pay cut. The new hires are probably paid appropriately, and you are underpaid. I would start applying for new jobs, find the market rate and use your offers as leverage when you decide to meet with management to ask for a raise. If they decline, then leave. You deserve better.
You are getting walked all over. Ask for a meeting with your supervisor now. Bring up the fact that you have 5 years of experience, specialty certs, and all the things you mentioned and that all of that calls for compensation well above the rate currently being offered to new hires. Go with a number in your head and demand it.
You can start by reducing it into writing and send it to your Management. It's better to get straight into the point rather than doing a lot of introductions. It saves your time and energy.
This is definitley not okay, I think it's worth raising based on market pay/circumstances rather than citing specific employee examples (doesn't go down well) and bring up your achievements/certifications