That sounds familiar!
I wonder if I'm working at the same company? I was similarly mislead about "regular merit raises" and "promotions from within" and "veritical and horizontal mobility" when I interviewed for my current job. Since then, the company has hired dozens of new people into senior positions and has only promoted 2 or, possibly, 3 people from within (this is in an IT department with over 400 employees). Without exception, EVERY open management position has been filled with a new-hire.
And, there are NO raises this year, and only token raises last year. Yet, the company is significantly profitable in spite of the recession. Obviously, the company is able to prop up profitability at the expense of its employees.
Clearly, companies will lie to candidates during the recruitment process. It's very difficult for an individual to determine the truth of the promises made during initial interviews. I strongly agree with Toni's suggestion to use all available resources to verify a company's culture before accepting a position.
Most importantly, though, I suggest people trust the "vibes" they get during recruitment. I really should have paid attention to the 'stiffness' and faux formality I sensed during the initial interview process. They were simply filling an open position, not recruiting a member of a dynamic team.
