Salary increase? Plaudits, but no penny (5)

I believe the answer is:

raise

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'salary increase?' is the definition.
(I've seen this in another clue)

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for raise that I've seen before include "What a poker player might do" , "Exalt" , "Move higher" , "Breed" , "More money from America" .)

I've seen this clue in The Telegraph.

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