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Rookie Questions

So I am a new hire and have yet to reach my upcoming start date, however, before I start, I had a few questions of alot of the lingo that gets tossed around in our industry and how alot of things work.

I know that every year during compensation season, ratings are given to employees (usually 1-5) and promotions, raises, and bonuses are based from those ratings. However, I am unsure on what many of the level promotions are.

I guess Im asking, what do the following mean (A1, A2, M1, M2, L3, L4, etc.)? Is it simply A=Associate, M=Manager, and the number is the level/years of experience?