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Either someone in HR really screwed up the salary banding or they're going to be hiring someone around 50K.
The first part is possible though. HR will do salary banding through Glassdoor and industry comps. If the person making the bands doesn't pay attention, a search for IT Manager could easily bring in a band that looks like the one above. Hell, it's a resume. It doesn't cost you anything to send it out.
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