Inflation is currently ~2% per year. If you are not getting more than that per year as a raise, you are getting a pay cut. If you are not earning more than that in returns on your savings, you are losing money.

If you have a bunch of cash sitting in a savings account making 0.03% interest, you are losing ~2% of your money every year. Invest it, put it in a CD that matches or beats inflation, etc.