I know that feeling and really sux, unfortunately thats exactly what let me to trying been independent, not with the idea of been my own boss because it doesnt play like that, but with the hope that only my effort and skills would be the limitation of my reward, it doesnt apply to everyone, I couldnt make the corporate system work in my favor so I took another path, it really sux when bureaucracy and other matters influence in getting a raise, for example right IMO most companies are looking into reduce their work force since depending on the field there is not much demand, so they want ppl to do more for less. I hope you can manage to get things around or at least as you mention make it worth in the long run, I dont know what you do for a living but I do understand the situation, it sux, cheer up keep on going 🤜💪✌️
I think everyone, not just companies want to do more for less. People go the other way and want to do less for more - both directions break.
There still fair ppl in the world, have a client that owns a jewelry store, when ai met him many techs abuse of him ripping off, I enter did my work one time, one and done, months latters after a few visits he ask me if we can work on a monthly bases as a remote support now Im the one in charge of the office, everything runs smooth and my worload with that client is very little, but yes i get your point ppl like that are very rare now days