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It should not be. The pay parity at its all time low. The new hires with 4/5 years experience are getting same package as the people sitting here since ages and are way ahead in the PL. There has been bias, favoritism and many other negative points that might hamper the chances of being adjudged a GPTW.
All the points are valid from employee perspective. But from the company's perspective, anyone with more than 15 years experience is a liability to the company and this applies to any IT company. So, the company doesn't prefer investing on such people unless one is in important positions like director and above.