Had to revive the thread to share a relevant experience.
I just interviewed at a raw materials manufacturing plant in BFE, NC. I declined the offer because while it was probably sky-high for BFE, NC, it was less than I make now, plus the commute would be murder.
Anyway, the plant has a small staff, and almost everyone there has worked there 20-30 years. The chief engineer and the plant manager have both worked there over 30 years and want to retire soon. But there is nobody to take their place; no junior engineers or anything (because that would be staffing inefficiency and redundancy!). So they have a personnel crisis of the "mature workforce" variety.
They understand the pickle they are in. The HR manager said they considered hiring somebody fresh out of college, but they know it would take 4+ years, bare minimum, for them to be ready to be a chief engineer, and that's IF they "worked out" and didn't decide engineering was too hard for them, didn't turn out to be stupid or a slacker, etc. etc., and they need a replacement in more like 2 years, and have apparently been looking for a while.
So here I walk in with a degree in Materials Science, past experience with ceramics manufacturing, 6 years of strong accomplishments in lean manufacturing, I live within driving distance of BFE, NC, mid-career looking for growth, aced the interviews, "best candidate they have interviewed so far", and they offer me 5% less than what I told them up front that I make now. Sure, the prospect (but not promise!) of more-or-less automatically becoming the plant manager is attractive, vs. my current dead-end job, but I can't take a 5% paycut plus switch from an 8-minute commute to a 1-hour commute.
I don't think they are going to get out of their crisis until they realize they aren't in a buyer's market right now. When you need a specific type of skillset, in a limited geographic region, and you need it fast, it's not really a buyer's market for you. So I wish them luck.
I don't envy the folks at the plant, but I also mock the business-school upper manager that probably got bonuses for "leaning out" the workforce and has probably moved to another company by now.