I wonder how long it will take for the salaries to normalise comparing with market rate. The salaries increased to 70k minimum, so they’re paying above market rate for a few roles.

The hiring quality will also increased. For example, with a 40k salary, the company could hire someone with 5 years of experience, with 70k, they can find someone with 10 years of experience.

So in a few years the company will get rid of low performance and hired more skilled workers and the salary vs skill will match the market rate again. (with a few exceptions)