I once watched a Vice President at an all hands explain that the company's decision to have non-competitive wages was because "it's not that we're underpaying,

I once watched a Vice President at an all hands explain that the company's decision to have non-competitive wages was because "it's not that we're underpaying, it's that everybody else is overpaying. If you want to go somewhere else to get overpaid, that's not going to last." I think about that every now and again and chuckle.