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I will just leave this little nugget of applicable wisdom from Napoleon Bonaparte:
A soldier will fight long and hard for a bit of colored ribbon.
I got so mad at my job recently.
I'm a dept lead. But the one who gives raises is two levels above me. And my teammate went to HR fully expecting to get a promotion, which they gave to her but without the salary. I raised a shit storm, and they said, "nothing we can do." Which is BS.
I pulled her aside and told her to work less, and been pushing for her to get more raises so she meets the minimum baseline salary for her role.
Depending on your field a title only promotion still has value. It allows the person to put "Senior Whatever" on their resume instead of "Junior Whatever" when they start applying for jobs that pay what their worth in six months.
Most companies care about actual experience (years and past duties) when making hiring decisions. They only consider previous titles and salary when they think they it'll help them negotiate a lower salary.