I have also never gotten a “promotion” in over 20 years and only twice have I gotten a meaningful raise and they were both around $10K and that was early in my career.
I stayed at one company for 9 years and made only $7K more in year 9 than I made in year 2. I stuck around mostly because of side businesses that I was hoping would turn into full time businesses.
But I did learn my lesson. A company has exactly two years to at least get me to local market value.
Now being on the other side of the bell curve, after working for 5 companies over the last 10 years, I either have to settle with just cost of living raises or move into an area that I am qualified for but doesn’t really excite me - consulting (“digital transformation consultant”, “cloud consulting”, etc.)