It's extremely common for companies to underpay their long term staff. I've been at my current place for about 2 years and after my latest cost of living raise

It's extremely common for companies to underpay their long term staff. I've been at my current place for about 2 years and after my latest cost of living raise of ~5% I'm still earning 5-20% under what recruiters reach out to me with regularly. I'm on the low end of the salary scale so need at least 10% to see any noticeable difference in monthly income. At a previous position at a very large international corp, my colleagues who had joined as graduates and now had 5 years experience with the company were being paid <1% more than the initial offer for new graduates.