> A senior engineer says “I want a 40% raise or I’m leaving,” and the company’s ability to respond depends entirely on what their alternatives look like. Except where I live there's a glut of people wanting any job they can find—for a variety of reasons ranging from high levels of immigration to layoffs in the last two years—and willing to accept discount rates because the alternative is being unemployed for another…
Money doesn't cleanly convert into time.
Having juniors and mid-levels is about being able to promote an existing mid-level that knows the team and the system, with zero downtime. It's much easier to replace a junior than a senior because of the lower expectations and risk.
Furthermore, a lot of companies are struggling to hire right now because the market conditions creates a flood of applications and its quite hard to discern who's a waste of time or not which leads to hiring processes taking longer.