It's not a secret that tech companies underpay their employees and bank on them being too complacent to go through the interview gauntlet yet again.
Remove the word tech, and you basically have it right. Why would companies whose goal is to maximize profit pay more than they have to? There is little incentive for companies to pay more than required to meet their needs.
Remove the word tech, and you basically have it right. Why would companies whose goal is to maximize profit pay more than they have to? There is little incentive for companies to pay more than required to meet their needs.