I never thought I'd say I understand Mesh... but when it comes to work, I totally do.
I would never accept a promotion. It's just suicidal.
First of all, when they make cuts, lower management is usually the first thing that goes away.
Secondly, you start working crazy hours and don't really make more money than before (heck, you can't charge overtime if you're in a leading position at my corp)
Working for a big corporation is hell.
Worst is you can't leave because they tempt you with the pretty good salary and full medical coverage.