But this is such a huge PITA because you constantly have to mind if any given object has this setup or not and what if related objects have different start/end dates? And something like a scheduled raise for next year to $22/hour can get funny if I then try to insert that just for July it will be $24/hour (this would take my single record for next year and split it into two and then you gotta figure out which gets the original ID and which is the new row.
Another alternative to this is a pattern where you store the current state and separately you store mutations. So you have a compensation table and a compensation_mutations table which says how to evolve a specific row in a compensation table and when. The mutations for anything in the future can be deleted but the past ones cannot which lets you reconstruct who did what, when, and why. But this also has drawbacks. One of them is that you can’t query historical data the same way as current data. You also have to somehow apply these mutations (cron job? DB trigger?)
And of course there are database extensions that allow soft deletes but I have never tried them for vague portability reasons (as if anyone ever moved off Postgres).