It is absolutely the case - I was replaced by an IIT FW - hard to use the 'T' because the program leads to permanence - who was hired at about 45K.  About half the going rate and he knew it; he planned to stay in the position long enough and then move on to a different firm  and get the going rate. I know that because he told me; I trained him and quite liked him but he ended up with my job.  Once he leaves they will just bring in another guy from India at half the rate.
Great for business owners but not so much for employees - his kind of thing leads to the likes of Trump.
Why not just create more places at universities and colleges or people already here instead of taking the seemingly easy way out?