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It's a junior role, they spell out the kind of experience they are looking for, sell the company a bit by saying it's exciting to work there is you're a bike nerd, and don't mention a salary as it's implied at the experience level, along with 90% of all other job adverts. I see nothing objectionable about it and am frankly surprised it's generated this much discussion.
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I don't think a job advert I've applied for has ever been 'honest'. There's always Ad hoc
Sumo
Thrasher
@Dammit
I'm not saying it's remarkable for being bad, or particularly unreasonable - especially in comparison to the adverts you reference.
It's a dog eat dog world and we all had to start somewhere, after all.
And it's part of the dance, as it were - the reason people move (on average) at just under two years is to boost their salary, you start at 17k and 3% incremental payrises are going to take a long time to really make an impact, whereas getting an extra five grand for changing what comes after the @ in your email address is a more rapid route to success.
I just wish these things were a bit more direct and honest, I suppose.