IBM band system vs Engineer Levels

I keep seeing people talking about L6, L7 etc at other companies and it's very different than what I know. Can someone translate / compare to IBM's band system? For reference, here is my understanding of the bands. When you join you would get the following band based on degrees plus exp plus managerial discretion: Band 6 = Undergrad degree + 0 years exp. (or a little exp) Band 7 = Grad degree + couple of years exp. (or undergrad with a few more years exp] Band 8 = Starts to get a little harder to quantify here. You'll need more years exp and good negotiation. At least 5+ years of exp with just undergrad. Band 9 = Top notch skills or long enough exp to qualify on the way in or get promoted internally (I think 10+ years) Band 10 = Walk on water, patents, network real well and negotiate real well. After 10 it moves to letters. Let me know if anyone can compare. Any ex ibmers here? :)