Nah, if you set the bottom of the pay range too low, you stop getting applicants. We actually ended up with very narrow ranges after HR researched the best strategy. I’m a director at a bank and am hiring a senior associate, and HR gave it the range of $160-175k base. Which was much narrower than I was expecting.

Of course, a decent percentage of your salary is variable compensations / bonus, and that doesn’t go on the job rec.