Agreed. This is especially problematic when pressure is put on managers to limit promotions. One friend works at a company where there's some sort of promotion quota. He put one deserving person up and was told other people deserved promotion more, so hopefully the promotion would happen in 6 months.
Not only does this serve to underpay people ready for promotion, but it makes it harder for them to move elsewhere. If they're working at level X but have the title/pay of level X-1, then they'll have a much easier time finding a job at X-1, which effectively resets the promotion clock.
Not only does this serve to underpay people ready for promotion, but it makes it harder for them to move elsewhere. If they're working at level X but have the title/pay of level X-1, then they'll have a much easier time finding a job at X-1, which effectively resets the promotion clock.