Yes, they do. I am working in a huge company (top 50) where the software we use is from ~ 2000 with upgrades that gets it to ~ 2008-2010. I was offered a higher

Yes, they do. I am working in a huge company (top 50) where the software we use is from ~ 2000 with upgrades that gets it to ~ 2008-2010. I was offered a higher management position in an automotive company in the embedded software division, I have a friend working there in a peer position and I am going to decline based on the information I received not just from my friend, but from the interviewers: it is corporate incompetence at its finest, with managers with no IT knowledge running IT like a plant floor, choosing external suppliers to do key work based on God knows what (definitely not competence, value or anything useful), paying egalitarian salaries to all developers with no differentiation to productivity, skills or experience. Perfect storm is the perfect description of the situation.