If promoted, is it fair to expect your company to re-align with “market value” or should it be expected that as a long time employee that you’ll continue to be under-compensated due to tenure?

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The latter. Loyalty is rewarded with being under paid while they pay the new hires market who often don’t know shit. Then they will ask you to train the market hires.

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The latter. Adjusted over time due to tenure. Better off negotiating hard rather than asking. Demand it because you deserve it.
Relationships only go so far. And there are partners that can do something but many cannot... your counselor will likely tell you this.

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They’re only going to pay what they perceive to be the minimal amount it takes to retain you, and not a cent more. If you’re underpaid now, you shall be underpaid in the future relative to peers.

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Undercompensated at Deloitte.
You're effectively punished for being loyal. I've had multiple Partners admit as much. The only carrot is being an equity Partner and there are fewer every year.

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Fair depends on perspective. One could argue that by making a jump to a different company, they are taking on significant risk (devil you know is better than the one that you don’t) and have to rebuild their brand/network. Thus, they should be adequately compensated for that additional effort. Otherwise, why would anyone jump ships?

It depends on the firm too. PwC’s Pay scale is per the cohorts. So it will be realigned

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