In response to the ever-declining status of the teaching profession, and its adverse effects on the country's educational system, the Federal Ministry of Education in Ethiopia introduced a policy of the teachers' career ladder in 1994. While reformers believe that the introduction of the policy has improved the condition of the teaching profession, the net gains of the policy remain deceptive and even, in part, reduce some of the benefits teachers used to enjoy in the single salary scheme in the past. Among other things, central to the claims of the policy's advocates stands an improved salary scale for teachers. While this was admittedly true by the time the policy was introduced, the gain in salary raise has gradually been lost to the bureaucratic hurdles and watchdog structures erected to screen teachers' eligibility at each stage of the career ladder. After critically assessing the major aspects of the policy, along with the voices of Ethiopian teachers, the current study argues that the policy of the teachers' career ladder in Ethiopia is another prototypical case of a failed experiment both in terms of improving the lives of teachers and maintaining their professional rights.