If you have not gone above grade 10, your salary will not match your abilities or qualifications. Moreover, cost cutting has become a culture so pervasive that even after a great quarterly result, senior managers are asked to freeze hiring, travel budgets and call off international meetings. Hardly anyone can travel in business any longer, even senior execs. I've seen Sr VPs sitting in open space offices -- these are people with 100s of reports. Something is severely screwed up when seniority no longer has any rewards.