This applies to me. I'm ~9 years into my career, 5 in my current specialty. I'm titled as a senior developer, mainly because I am the only developer for my product at the company (I maintain our warehouse management system).
Honestly, it sucks, because I do not have senior levels of industry experience but am still required to make decisions as if I did. I don't like the situation, but I make the best of it and try to source second opinions from those wiser than myself, which usually means contacts outside my current employer.
I'm not sure how common my situation is, but I'm sure I'm not the only one to title creep more rapidly than is perhaps sane.