DrGero20's journey

I recently found myself in a tough situation at my job in sales at a legacy CPG brand, where I've been working for the past five years. Last week, my coworker was let go, and their workload was shifted onto me and another colleague. This change came with a title change that was not initially communicated as a promotion, despite the significant increase in my responsibilities. I discovered that my title was updated in the HR system without any formal announcement or new job description provided. A couple of days later, I received an offer letter that had a typo in my annualized pay and included a modest 4% raise, which translated to just a $1 increase in my hourly wage. To make matters worse, I found out that my coworker, who has been with the company for less than a year, started with a salary that was over $2 more than mine. This means that even with my raise, I am still falling short of her starting pay by around $5-6k annually. I approached HR to discuss the possibility of adjusting my compensation given the increased workload and my long tenure, but they were unhelpful and stated that salary information is confidential. They mentioned that I would be eligible for a merit-based raise in March if I exceeded my responsibilities, but I pointed out the irony of not knowing what those responsibilities are since I didn’t receive a job description until a week after my title changed. Now, I'm contemplating whether to accept this 'promotion' or not. I haven't signed the offer letter yet, and I'm frustrated with the entire process. I'm considering looking for a new job, but I also value the work-life balance I currently have, which complicates things. I'm curious if anyone has experience with rejecting a promotion and what the consequences might be. Did you face termination after saying no?