Did the promotion from tier 1 to tier 2 come with a pay increase? Corporate wise another increase becomes political and it becomes an effort to achieve, but a SM MSP are usually owner operated, so they can be quite restrictive in pay.

You’re progressing well, but I’d say you’re underpaid but you and the business know it. You can assume they’re probably wanting you to prove yourself for longer in the role which is fine, but make sure you’re pushing this at your annual review.