I’ve been doing this for a long time. 25 years between 6 companies you’ve never heard of and one former F10 non tech company. There were no formal leveling guidelines and I only got one raise that was more than 4% and that was in 2000. If I wanted a “raise” I had to switch jobs. I agree with you completely.
But now I do work at $BigTech. The promo process is real. People get promoted every quarter.
On the other hand, it is still easier to “boomerang” - get hired at the next level at a new company and then come back - than it is to get promoted at your current company.
Also because “salary compression and inversion” are real. Meaning, that getting promoted internally will still lead to lower compensation than someone coming in at your same level.
But now I do work at $BigTech. The promo process is real. People get promoted every quarter.
On the other hand, it is still easier to “boomerang” - get hired at the next level at a new company and then come back - than it is to get promoted at your current company.
Also because “salary compression and inversion” are real. Meaning, that getting promoted internally will still lead to lower compensation than someone coming in at your same level.