How does the pacing and timing of career progression differ from advancing in schools?

I’m about to graduate from college, and I’m a little weirded out about how long people stay in a position before getting promoted to the next level. Throughout school, you’re advancing a grade level each year and are generally done with a subset of school every four years. In the job world, you’re in a position for a year or two before you’re promoted, and it takes A LOT before you get into a position to even begin to lead or manage people.

For people who have already worked for a while, what are the biggest adjustments or mindset shifts that you had to make in order to deal with what seems like a slower upward progression in the working world? Also, how can you keep the timeline of your career in perspective?

I get freaked out about the prospect of being with a company for 5 years before I reach anywhere “cool,” but I think my perspective is off.