[it_does_follow]

I had a similar reaction to this post, this is not a new way of leveling, this is how leveling was done at most companies for a long time. State Universities and the Federal Government are still very much this way, with a very similar amount of counting years of direct/indirect experience.

Back when I worked in academia I also had a very similar experience to yours. I wasn't leading a team but, especially earlier in my career, it was incredibly frustrating to be making significantly less than people who were both less skilled and less hard working, but simply had more years of experience. The perpetual theme was "you just haven't earned it yet", but "earning it" was purely a function of putting time in, it didn't matter how great the work you did was.

I left to go to tech and even now that I'm on the older side of things I still prefer the pay structure being more closely aligned with the value of your skills + the amount you're willing to put into the job. I get paid plenty, and have no problem with someone much younger and less experienced then me getting paid more with unique skills and responsibilities I'm less interested in having.