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Just corresponds to your level of experience. For home grown resources, it usually literally translates to the number of years at that level. For external hires, especially those not coming from consulting, not quite that clean but the easiest way to think about it is the higher the grade, the more experience you have.
Usually you start being considered at Senior 3, but in Tech I’d say 3-5 is the typical range.
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Half a dozen I think, but S3 to Manager is doable
I’m an experienced hire with around 4-5 years of experience and I’m an S4.