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So you’re not on the same level, so you get paid more? Except you don’t? That’s a contradiction.
I’d start applying and interviewing elsewhere, and once you have an offer, decide which one you’d rather do. If you’re not happy where you’re at, don’t wait, start making a plan B now
You have 3 choices: live with it, go elsewhere or start some nuclear war trying to change it. Since you’re alone unhappy your situation will be way worse afterwards. And you will leave anyway.
A tier based system doesn't seem inherently unfair to me. But putting a senior dev and a junior dev on the same tier seems pretty unfair. Are you paid well relative to what you could make if you did jump ship? You mention that your coworkers are over-paid, but not specifically that you are underpaid.
This is the line I have a bit of trouble with. You shouldn't try to bring others down to feel better about making more, you should see what they're being paid and realize you are worth more. Outline this in asking for compensation adjustment, or begin to look elsewhere. If you can't find a role making more, just try not to let what others make bother you. At the end of the day you are the only one looking out for you - so invest more in doing that, and try to spend less worrying about others. Their making more or less will have little to no impact on your personal career progression.
That right there is what makes you a senior. Make sure your work, your performance, and your track-record in levelling up your coworkers is well-documented, and use that to justify your bump and bonus. There is a chance that it doesn't work - in that case you have a year (or more) of experience with leading teams and mentoring coworkers that you can take to your next gig.
With regards to either or not things are fair, it is very possible that the business doesn't understand the value of the work your team does. It might be worth finding out what it is they do value and either trying to provide it or - if you can't directly provide it - enabling those who do provide it.
In either case, since you are going to be at this job for a while, it's a good opportunity to focus on fattening up your resume with those soft skills that often don't come easy but are valuable.
> Everyone on the same level gets the same base pay … I am the only senior. So you’re not on the same level, so you get paid more? Except you don’t? That’s a contradiction. I’d start applying and interviewing elsewhere, and once you have an offer, decide which one you’d rather do. If you’re not happy where you’re at, don’t wait, start making a plan B now
You could even list both titles on your CV for one length of time at the company, and just let people assume you progressed to senior rather than 'regressed'.
But ideally/presumably that doesn't happen - use it as negotiating point I mean - you can say you're honestly willing to be demoted, because it's going to spare you work, to the detriment of the company, with no loss in pay. Hard to imagine they wouldn't see sense and pay you more, and if not, try to shrug and enjoy the 'easy ticket'? (Especially since you phrase it as them being overpaid, not you under, so you'd presumably be happy with that.)