Well, speaking as someone who sits on a lot of interview panels--we post the hiring range in the job announcements. We get qualified applicants that are asking for way more than the hiring range. If they are the best candidate, we will offer them the job, but emphasize their starting pay. Sometimes they take it, sometimes they don't--but they knew when they applied what the pay would be. It's no more a waste of their time than it is ours--we interview people who will never take the job, just want interview experience, or list skills on their resume that they lack, etc.