Well in many markets, we have seen plenty of pay cuts. Really close to 20 years of them.
Something gets added to your job see decription. A little time goes by something else gets added to your job description ,on and on. Then a contract gets renegotiated . mayne someone under bids tour boss, or not . maybe they just want to keep more themselves then your prices get cut. So with the add ons, changes on descriptions of how items can or cannot be billed, or making work composite priced then a 20-30% pay reduction. Then you are working for half what you were 10 or 20 years ago. Some one is always trying to get it cheaper. And while you are working they are figuring. We do too when we spend money.
Alot of the sub unit pricing I seen the last few years is lower than in house unit pricing was 10 or 15 years ago.
Right now if you're making it that's a great thing. But you have to do what you have to do. Good luck to you.