that's what it should mean, but in my experience it just means they're lying and don't want to put out numbers

I've done the market comparisons so I could determine wage ranges for my department. I've also done interviews with other companies in the same timeframe, and those companies that were "competitive" were always like 10-30% under the average. I'm convinced some of them intentionally choose to misrepresent the numbers by figuring that $x hourly rate resulting in an annual pay of $y due to overtime means they're "competitive" to the annual salary data that is normalized to forty hour weeks. I don't see how else they could get it wrong.