No offense to the author, a good article, but seems he may live outside of the US, or maybe works at a small company. My experience as a developer, in the 80s

No offense to the author, a good article, but seems he may live outside of the US, or maybe works at a small company. My experience as a developer, in the 80s and most of the 90s, there was a benefit to a promotion. Since about 2000, promotions means: 1. A fancier title (who cares). 2. No Salary Raise, a big issue for me and what I miss the most. 3. More responsibility. Why bother push for a promotion these days ?