
Each team is given a budget for promotions. The difference between your current salary and your salary, if promoted, eat away at the team's promotion budget. Employees up for promotion are effectively stack ranked, then they go down the list until they run out of promotion budget.
No process. If you are lucky and in a team which has a position then you may be considered. Career development is just a highly theory oriented HR program. In reality you have to be at the right time and right position to get an promotion.
Whomever they like personally gets the promotion. I have seen 1 promotion in 2 years that I felt was at least partially based on merit. I've seen numerous promotions that occurred because the manager thought the other person was cute.
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