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Then that underpaid employee gets easily poached for x3 their pay a year in, when they have all the valuable knowledge and work responsibilities.

Sounds like what happened at Intel, from the top comments.

Yes, your first job. Not your second. You need to be deeply unpleasant to work with for no one to tell you you've been exploited when you leave.

He probably told you that because that was the minimum salary range for that position.