"most companies have fallen into the trap where if someone has a title of X they can only make up to Y,"
Eh, most of the people in the established pay range tend to be at the low or mid range, so the company likely has the ability to pay more. Once they're at the top of rhe range, that shouldn't be much of a problem either... but that assumes the range was created using good industry data. If so, then there shouldn't be a better deal somewhere else (or at least very hard to find).
I think there's often better pay elsewhere because companies generally reactive towards employees rather than proactive. This is also reflected by the data showing lagging indicators.
When you factor in how much it costs to have a roll unfilled, hired a new person, then train them, then productively paying to retain your talent becomes a no-brainer
Eh, most of the people in the established pay range tend to be at the low or mid range, so the company likely has the ability to pay more. Once they're at the top of rhe range, that shouldn't be much of a problem either... but that assumes the range was created using good industry data. If so, then there shouldn't be a better deal somewhere else (or at least very hard to find).