Pros
Pariveda offers a very clear framework for advancement within the company. Employees work with a mentor to set goals to achieve a specified level of skills and experience in all aspects of their career. There is a diligent focus on growth and accomplishment, and a culture of positive feedback and mentorship.
Cons
Because advancement is so clear and transparent, it removes the option of making an extremely fast rise. Employees are only eligible for promotion once per year, and that might not be fast enough for some people. There is no "quick way to the top" because of who you know, etc. Everyone (including upper-level executives) has to satisfy the requirements for promotion, and the compensation for each position is pre-established and well-known.