In my opinion the problem is this: company wants you to "show you are performing at an higher level" before giving you higher pay or a promotion, but this can take years in a mid to big sized company, and even performing at 200% your peers doesn't guarantee you get what you deserve, since most of the promotions in structured companies are not tied to performance whatsoever, but to networking and being supporters of your superiors (scientifically proven), only for salespeople performance in sale has been shown to be directly tied to promotion, but then they are also shown to be bad managers when they actually get promoted (too tied to pursuing their own agenda).
So companies want you to have faith in them to recognize your value sooner or later, but they don't give you any faith back in return, it's never the case that some HR manager says "oh let's give this guy a quick promotion, let's have faith in him!".
Another point, if one is a professional is supposed to do his job for the agreed rate and nothing more, nothing less so i should be evaluated in what my regular 8 hours of work are, and within the boundaries of my job description, nothing more, nothing less.
When you go to the butcher and order a 1kg steak, you pay precisely it's weight, not more, not less.
Let's stop normalizing this "go above and beyond thing", it's not working (most managers suck at their job, scientifically proven), just be fair with the employees and respect everybody's time.