But primarily,
"We promote engineers and managers when they have demonstrated that they are consistently performing at the next level. Promotions don’t unlock new responsibilities; the new responsibilities and increased scope come first and then we recognize it with a promotion."
Every discussion I had with my manager, my promotion was six months away, despite IC contributions exceeding the sum total of the rest of my team when measured per-project via our number one KPI: annualized cost savings (larger org was seen as a cost center).
Unfortunately these "principles" are becoming harder and harder to avoid.