The problem is that “just coding” isn’t all that valuable, relatively speaking.
College grads can do it barely, and 5 years in they’re fine. What do you do with the rest of the people who, 10 years after that, want to do the same things but get paid 50%+ more?
“Virtuoso” coders aren’t worth much (relatively), because it’s not that rare, and honestly bugs aren’t really a big deal. Heck, you can write some pretty terrible code, and as long as it’s not some specific flavors of bad, your company will be totally okay for a very long time.
College grads can do it barely, and 5 years in they’re fine. What do you do with the rest of the people who, 10 years after that, want to do the same things but get paid 50%+ more?
“Virtuoso” coders aren’t worth much (relatively), because it’s not that rare, and honestly bugs aren’t really a big deal. Heck, you can write some pretty terrible code, and as long as it’s not some specific flavors of bad, your company will be totally okay for a very long time.