[nostrademons]

"I read something on HN a few weeks ago that claims top CS students start at $80,000 these days. Having worked with people straight out of college, even the best colleges, I don't think I would have any trouble doing twice as much work over the course of a year."

Companies don't offer fresh college grads $80K/year because they think the college grads are worth it, they do it so that they can have their pick of the litter for $100K 5 years later, when they're actually worth like $150K, and not have to spend the extra money poaching them away from other companies.

Your value as a developer goes up pretty fast as you gain experience, but most people have some semblance of company loyalty, particularly if they've never worked anywhere else. Outsize salaries for fresh grads are an investment, a hopes that they can retain the best of those fresh grads for well below market-rate salaries in the future.