That's 46 years, man. On average, only 4.5% raise per year. Back in the '80's double digit merit raises for exceptional workers were common. Add a promotion, or even better change jobs for a better opportunity, and anything is possible.
My Dad and both Grandpas worked a single job their whole lives. In contrast, my 40 year old son has changed jobs every 4-5 years. Starting as a salesman in Office Max when he was 18, he now manages the entire east coast distribution division of his company. I can't even imagine ever making as money as he does.
Of all in the family, only one Grandpa was a union member. That was an educational experience I will never forget.