There's some truth in what you say. Very few new CS grads are making substantial contributions commiserate to their salaries. They probably do hit that level in

There's some truth in what you say. Very few new CS grads are making substantial contributions commiserate to their salaries. They probably do hit that level in a few years so maybe that balances out. But the companies/shareholders seem to be happy paying those salaries, and we might believe that they probably know what they're doing.