[academia : toy boats in bathtubs :: industry : aircraft carriers] is the most memorable distinction between academia and industry I've heard. In the end, your slice of the pie will be as big as you can handle, but the overall size of the pie (and thus your percentage of control) determines whether you choose academia or startups or established companies.
At the risk of looking stupid, wouldn't it be more accurate to say that [academia : industry :: toy boats in bathtubs : aircraft carriers] ?
I would read this aloud as: "academia is to industry as toy boats in bathtubs is to aircraft carriers", which seems to make more sense to me as an analogy. So do I have it right, do I not understand analogies, or do I not understand the notation you're using?
"There are few people over 40 wandering the halls. " -- Oh yeah. I wonder what happens to an engineer at google when he turns 40. Does he go to Valhalla or something?
What! And I was kinda angry with Google that after all my degrees they still consider me for "software engineering" position. This prof gets the same title. Hmm.
It's more than five levels. And there're titles for the levels above Senior Software Engineer, but many of the best programmers keep on using plain old "software engineer" because they'd rather be known by their code than by their titles. (Or they make jokes about them, eg. one that I know is officially titled a Principal Engineer, but goes by the title Engineer in Principle.)
I don't know titles used by Bell Labs in their old glory days but currently what you say is not correct: They have also distinguished member of technical staff and fellow titles, e.g. see http://www.colloquial.com/carp/mts.html.
The titles "member of technical staff" or "member of research staff" used by most corporate labs sound better to PhD ears than "software engineer", I guess, although for some companies they mean (roughly) the same thing.
It's not an offending title in itself. However, virtually all other companies I know of use that title for entry level positions, i.e. for positions that have very little or no initiative. Google's different stance causes confusion among PhDs that apply there, as I have heard from many friends who get irked by the SW engineer title.
Well, people look at titles not just because it boosts their ego: They usually show salary range you expect and the job function you will perform. A "software engineer" position's responsibility would differ greatly if you are applying to, say IBM Research or HP Labs as opposed to what Google takes it to mean.