Sign of greediness or contention?

I have been promoted at work. I have just been told that I am doing a good job. I have been given a considerable hike, just months after a hike that was even bigger than this one. And just like that, I have got two promotions and 5 hikes in the last 3 years.

Alright, that's for the news part. You want to know what my problem is? The problem is that I am not happy. Not that I am unhappy about this. Let me make it clear. I mean, my reaction to this promotion has been an indifferent one. It's been the same story on almost every previous occasions. Very strange, indeed. And this is compounded by the way those that are close to me reacted to this. True, there were few handshakes and lets-go-for-treat calls. But sparing one (or may be two) excited squeaks, the reaction amongst my close-ones has been conservative. Not surprising really, considering the fact that the one who has every reason to be excited about isn't.

My father worked for the Government in the era, where hikes were hard to come by and promotions asked a lot out of you, including years of toiling. However, there wasn't a single hike or promotion without a celebration with the family. The sweets tasted tastier than ever. The meagre extra money that was promised every month brought so much joy to the family; Had so much value in it. And they were better days to live in.

So, what's wrong with me or the world now?. (I am part of this world and I believe that this world has to be partially at blame too)
It's true that since the last promotion, there hasn't been significant improvement in me in terms of skills or knowledge. But it's also true that those who are already there, where I have just reached aren't any better than me. (And like always, there are exceptions) And so, technically, comparing myself with others, I deserve this promotion. But what really is a promotion? Isn't it a reward for your improvement? isn't a way of telling a person, "Well, we are impressed". How good is a promotion that is drawn against time on the 'X' axis?

So tell me, why am I not happy? Or should I rephrase the question - What makes me happy?