Sure, Barry, anything to help. But first tell me something. My answer was that the two were the same. You jump, for example, from project engineer to senior project engineer. And since you're being promoted faster, your salary grows at a quicker pace, sort of like compounding the interest you'd earn on a certificate of deposit.
Many people view a job change as a way of promoting themselves to a better position.
In most cases, I would agree. However, you should always be sure your new job offers you the means to satisfy your values. While there's no denying the strategic virtues of selective job changing for the purpose of career leverage, you want to make sure the path you take will lead you where you really want to go. For instance, I see no reason to make a job change for more money if it'll make you unhappy to the point of distraction. Your responsibility when contemplating a change is to evaluate what's most important to you.