My understanding is that the game is usually about the money saved between the offer and the target salary band.

Companies have their review schedules and the new hires would be boarded before the reviews. This would allow to hire at low ball and then give a "raise", effectively leveling it.

Not only aiming at below market figure saves company the money, this also serves as a retention tool.

So, it does pay to know an approx of the target comp band AND your own "happy" target. The hard part is to formulate it as a package.