Few months back, I got a faux promotion at work. As an individual contributor I helped build a new department for my company. Defined their KPIs, work processes, built BI tools, etc. I worked really close with the VP who was overseeing the project, while reporting to the CEO.
They promoted a guy from the company to be a Sr. Director leading the new department. I worked with him too to help define his role, responsibilities, work processes, etc.
After a year or so, it became clear that he needed help, so they “promoted” me to report to him. They said, basically you built the whole thing, you know it better than he does, so you're the best person for the role. And by the way, they want me to continue fulfilling the responsibilities of my current full time role.
Then I sat with my boss and told him that if he's serious about increasing my responsibilities, I think it's only fair to discuss my compensation package. His response was, “You over-value yourself and if your work really was that valuable why are you still working here?”
I applied for a job that hour. Got hired right away with a 50% increase to my pay at a Fortune 50 company. Part of a great team, feel appreciated every day.
After I left, my old company had to hire two people to do my job, plus an external contractor to maintain their BI tools.