At these big tech companies, your level is not just a puffy title. Within whatever your current level is, there is not much opportunity for compensation growth. L+1 usually represents a large leap in compensation, which explains the emphasis on it.
Nobody leaves FAANG1 for FAANG2 to simply get a title bump. They leave to get the level bump which sometimes means +20%, +50% or even +100% in terms of total comp.
I think you’ve illustrated perfectly the phenomenon I describe.
Levels are fictional rat races designed to keep the rats working hard in hopes of “making it” without necessarily having achieved anything of substance.
Your counter argument is that they’re not just titles but have associated compensation components .... great. Doesn’t mean that you’ve accomplished anything significant at all. And now that these levels are normalized across companies, the only thing employees care for is leveling up, who gives a shit about whether you’re really learning or making a difference.
Unless you’re assumption is that levels are more than just a financial totem pole but an accurate representation of skills and accomplishments. I think that’s what they aspire to be but are not so in practice.
Nobody leaves FAANG1 for FAANG2 to simply get a title bump. They leave to get the level bump which sometimes means +20%, +50% or even +100% in terms of total comp.