Comment by lesuorac

The changes to compensation also make it worse.

The 85%ile of L used to be above that of the lowest 15%ile of L+1 so in the year that you demonstrate L+1 you'll get compensated as L+1.

Now, the 85%ile of L is less than that of the lowest 15%ile of L+1 so until you actually get promoted there's no real compensation difference. Which makes leaving for L+1 so much more attractive (and also going above-and-beyond less attractive).