Worked way above my level for two years, being told I'm doing all the right things and it never leading to anything... applied for a job internally and jumped two levels by moving.
Lots of egos which are being rewarded with promotions, leaving those who quietly do a good job behind.
"Manager's discretion" for EVERYTHING is great if you've got a good manager, but not for those who don't. Lots of inconsistencies in management and fairness.