If you are Project Manager who received four(4) Plaques of Appreciation awards within 2 years but never received increase in salary, what will you do?

Certainly this would be frustrating as it would show the company's lack of intersting in the development of its own employees. And here patience and good attitude must be applied.

I think i would discuss this with the decision maker and try to set "benchmarks" or future goals where i can get a pre-approved/planned increase of salary.

Should the company not allow me to do that, more patience is to be applied. and if i see a dead future with the company. Honestly, the next step would be to move on to a different company.

I will tell this to my boss in a polite manner  : " If you intend to give me a 5th Plaque of Appreciation, I will not accept it without increase in salary or bonus " .

I will try to be patient for another two months, and if no salary adjustment yet, I will just look for another job.