2. It is useless to talk in terms of job titles. If you want to know roughly how much is the market, and how much a person is earning or you should be earning, take the starting pay, add $200 annual increment for each yr. You can expect a promotion once every three years - four years: add $1000 for each promotion.

Eg. Starting pay: $2500 + 2 promotions + 8 years experience annual increment
$2500 + $2000 + ($200x8) = $6100

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In my GLC company(with 4 main subsidiaries), There is no such thing as add $1000 for each promotion, not even $200.

As for my case if I continue to work in my current company for 8 years, base on your formula, this is what I will get.

annual increment for A grader approx 6% only (B will get lesser by 1%, C ...accordingly)
promotional increment for A grader approx 8% only (B will get lesser by 2%, C ...accordingly)

Assuming I am a very 'outstanding' performer aka 'A' grader with my company, please refer to below:
Starting pay: $2800 + 2 promotions + 8 years experience annual increment = $2800 + 1.08^2 + 1.06^8 = approx $5.2K only

This wat you get here as a A performer here consecutively for 8 years....(very hard to achieve that).

Well most people are average performer 'C' which includes me, will get no more than $4.2k with 2 promotion & 8 annual increments after 8 years of services in my company. How pathetic is this here!!!