[majormajor]

A title bump without the reporting structure changes to go with it is just a fancy way to dress up a raise, sure, but that's not the only option.

In companies doing this well, the high-level engineer doesn't report to the immediate team lead, but reports to the same director that lead does. Or VP vs director for even-higher-level engineers vs higher-level managers.

That structure, more than the title, is what shows you if you're really on an equivalent track.