I started off making about 20% more than a few of my colleagues who had been with the company a number of years and had much more experience than I in the plastics business. While I alone now benefit from this (I never shared my true salary with them!), it seems to me that PolyOne treats new people better than those who have been loyal for some time. I've also only seen a handful of times where someone internally got promoted out of an individual contributor role. The reality sees to be, if you're doing good at your job, you're too valuable to lose, and the company is better off hiring management from the outside. This is good for short term stability, but I know it ticks the current employees off.
The work-life balance is average to poor, but that's what's expected when you're focused on short term results. We continually change course, have weekly changes in strategic direction, but at the end of the day, we go after "everything" because nobody wants to say no and be blamed for missing their number. I set my own personal limits, like no emailing on Saturdays, because if you don't set your own boundaries, you'll go nuts. It's worked for the stock price, but I question if this madness is sustainable.
In all companies, there will be people who take credit when things go right, and blame others when the bottom falls out. Expect the same here. Luckily I had a good mentor when I started, and took the time to develop professional relationships with those known for that to minimize my exposure. So far, it's worked.