> In a true meritocracy, a fair system, people are rewarded for their contributions.
In your true and fair system, how much should a talented new grad software engineer, whose output to the company in his first year will be little (if not negative due to opportunity costs of mentoring by senior engineers) be paid ?
Assuming that after some time, the new hire has the potential, although not guaranteed, to make substantial business impact.
As I said in another comment, I would suggest allocating wages democratically - that way people can negotiate between themselves to find an agreeable rate.
Assuming that after some time, the new hire has the potential, although not guaranteed, to make substantial business impact.