This is basically the bread and butter of large parts of the consulting industry in Norway as well, although not quite as dysfunctional. Always be recruiting pr

This is basically the bread and butter of large parts of the consulting industry in Norway as well, although not quite as dysfunctional. Always be recruiting promising young engineers from university, pay them graduate salaries and bill them out at senior rates. Keep enough experienced engineers around to mentor them and ensure that the delivered product is good. Profit margin for each of these developers is excellent. When they get enough confidence and experience to realize they're underpaid, they'll jump ship to a company that pays senior-level salary (but still bills at very similar rates!), or to a consulting firm that mostly pays commission. Don't quite agree with myself whether this is an example of a gross inefficiency or just the logical way to train people.