Interesting point but unfortunately you're off the mark - we use pay ladders for our team, very similar to those Joel Spolsky applies at FogCreek. We keep one

Interesting point but unfortunately you're off the mark - we use pay ladders for our team, very similar to those Joel Spolsky applies at FogCreek. We keep one eye on the .Net market to ensure our pay scales are aligned with market rates, so pay isn't the issue.