Why would he want more responsibility for less pay?
It can be hard to know when you’re underpaid. A lot of people claim to be underpaid, even when their salary is pretty standard for their industry and experience level. Most employees don’t have access to their company’s books, so they have no way of knowing whether they’re making more than their coworkers or whether their bosses and managers are bringing home the big bucks while they get pennies.
Sometimes you can tell you’re underpaid because you’re doing the jobs of multiple people. If you’re working the equivalent of three different positions, and you’re only getting paid for one of them, you’re getting underpaid, no matter how your boss wants to swing it. If your workload doesn’t reflect your title, there’s a good chance you’re getting underpaid.
It can be borderline impossible to get a raise when you’ve been working like a dog for years and have shown your boss that you’re willing to put up with bad working conditions long-term. They might just get rid of you and replace you with someone else who is willing to tolerate low pay because they feel like they have nowhere else to go.
The employee in this story has been doing managerial work for a while, but he hasn’t been getting paid for it. Now that his company wants to promote him to manager, there’s one huge catch: he’ll make a lot less money as a manager than he does in his current position. Why on earth would he accept a demotion like that?