In most companies the people who stick around will turn out to be the mediocre workers. Which is fine. Not everywhere needs to be staffed with the second coming of von Neumann’s. But the pattern is generally that competent people will leave unless you pay them enough to put up with shit. There is no shortage of companies in big metropolitan areas that will pay you better. In smaller areas, sure this pattern breaks and good workers may stay on to hold onto their job.
