Promotion turned into lateral move...

So a few months ago, a person who has worked at my company quit. They trained me for 2 days for their position and took a PTO day off, then HR told them to just go. I have been working my position that I was hired to do and the position of the other person for that past 3 months. When the person quit, my manager had promised me a title change and a promotion to the new position.

HR contacted me today and told me that I will be in the new position, but it is a lateral move and not a promotion, so my salary did not increase by much , now I am going to make $47K. I was expecting my salary to go from $42K to at least $50K-$62K, since I will be working 2 positions. Should I be worried?

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