The company massively underpays their web developers. When I started, most of my peers were hired between 40 and 45k and were lucky to receive a raise after a year. It definitely seems that management is content to cycle in new developers every year, rather than invest in experience.
While the design and testing methodologies implemented here are reasonably current. Much of the infrastructure is largely out of date, and due to only a few people being able to review and merge code, there is a distinct anti-maintenance culture. Updates to infrastructure, or additions of tools that would drastically reduce menial labor time are dismissed out of hand. Typically the upfront time is cited, even when in a period of relatively light deadlines.