My company has four IC titles, the description of which includes typical experience, with credit for graduate degrees. When we went from two titles to four, I

My company has four IC titles, the description of which includes typical experience, with credit for graduate degrees. When we went from two titles to four, I was assigned the highest title, and joked that it was another way of saying "old". I would be level 7 under Daily's system, making more than I do now, but then what's my monetary incentive to improve? Younger, less experienced colleagues can literally set a countdown timer to their next promotion/raise. It feels a bit lazy, to be honest. Some people have commented that it will lead to coasting. The alternative that I anticipate is up or out: you're a level 5 performer at a level 7 salary. You might be happy at a level 5.5 salary, but sorry, you're out.