I worked for a company like this. It irritated my VP who had her hands tied when it came to negotiation (like you mention). I ended up switching companies for an 80% bump.
These companies work really well for the median employee for all of the reasons you mention - especially the air of transparency. But I think it makes it nearly impossible to properly compensate top talent.
These companies work really well for the median employee for all of the reasons you mention - especially the air of transparency. But I think it makes it nearly impossible to properly compensate top talent.