> A company’s goal is to hire someone who will become an effective employee and produce more value than their cost.
This isn't true. They have no clue how to measure your value output. A company's goal is to make sure it has the staff to get its work done so it can sell its thing. A hiring manager's goal is to find someone to do the thing they don't have time/staff for. They will pay somewhere in the realm of whatever the market pays, depending on the "philosophy" of the hiring manager, engineering director, finance people, etc.
I recently interviewed for two jobs in different locations. Both remote, both companies in mid-tier locations in terms of salary. Same type of job, same kind & size of company, same tech, same problems to solve. One was offering 40K more than the other. I wasn't going to produce 40K more value for one than the other. Hiring and salary is just not a very smart process. They have the budget they have, and the market is what it is.
Yes! I wrote my own response, but your post made me realize the most important piece of missing advice: if you want a great offer, interview at a company with lots and lots of money
Generally speaking, yes, companies with more money can pay more. But there's plenty of companies with lots of money, yet their teams have no budget. And it depends if you came in through a recruiter or not, or are a contractor or not, or if it's a startup throwing around cash or being thrifty. Start by applying to the ones that list a high range, and then the companies with lots of money, and then the rest.
I've found that if they're a startup based out of a high-income city, they're most likely to throw money at you. Larger companies based out of high-income cities have to be more stingy and will limit based on your location, but you can push for more. A corporate hiring structure will often enforce salary caps based on title, so if you ask for too much, they may have to invent a new title for you and get it justified to their executive leadership, which is politically fraught. So if you get to the top of the salary band, don't push hard, or they will be in a corner and have to choose between you (a near-impossible candidate) and a candidate they can actually hire.