This company is an international financial institution based in NYC. The mid point of the range was about 10% below where salary surveys said a person at my point in my career should be paid where I live for the job description.
Don’t try to find “good” reasons for this crap. The range went from entry level pay for a non-senior developer to way higher than anyone should expect to get. They maliciously complied with the law, like the employers in this article are doing.
I since got a job for a similar base pay plus bonus (thank God) from a much smaller but fast growing company.