There's no recognition for doing your job well or going above and beyond unless you overtly promote yourself internally, which has lead to a culture of toxic positivity.
It's incredibly challenging to get promoted, which is the only time your compensation will increase (no bonus structure, no yearly adjustments, etc...). You may get a stock grant, but it's just a millstone to keep working for a company that doesn't care about you.
After a change in Marketing leadership, a decline in employee engagement, and general attrition throughout the year, there were promises made that things would get better. That management would take employee feedback seriously and implement change.
The single change was an update to the career bands structure, which is actually worse than it was before. There's no longer a competency for bringing 'business value'. The emphasis is much more on communication and collaboration, which is incredibly challenging at a company with so much organizational debt that getting anything done requires moving mountains. With these new bands, any actual work that moved the company forward and drove revenue will slow as everyone ensures they don't step on anyone's toes and risk that promotion.
The only time where you can get any change in role and significant increase in salary is during the annual review (which is held each April, a solid 4 months after the year has ended). If you just come short, or if you get feedback you weren't expecting, prepare to wait 12 more months for any meaningful salary change.
It seems like they're doing as much as they can to not promote employees or give them additional compensation. Strange, coming from a company whose Core Values include "Caring Deeply".