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More reward for professional excellence as opposed to frivolously handing out noddy badges in order to keep up the appearance that everybody is important. Yes everybody is important, especially those that make the company / projects work by bringing valuable experience or skills
Why do you feel undervalued and what would make you feel better about your compensation?
I'm being paid far under what the market in my area is compensating other people in the same role. I also believe that I am significantly more capable than your average employee in my role number of years experience, which means that I should be compensated significantly more than the average.
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