While working with a client as a contractor in US, I was told by him, that my Manager had promised to get PhD/MS with 5 to 10 years experience. I had 4 years experience after my after Bachelors from another country. The client appreciated my work and kept my contract as long as possible. In the three years that I worked, I saw 10 people come and go. It hurts me every time I think about it.

What hurts most is that it is still in a common practice in that company and industry.