Do recruiters exaggerate salaries?

Rationalist

Hail Voltaire
Recently I was contacted by a recruiter about a systems engineer position. She gave a description of the position and cited a six-digit salary. This sounded a bit high for the job description, but I thought I'd proceed anyway and see where it leads.

To cut a long story short...one phone screening and three interviews later, during which they determined that I am 110% qualified for the job, they offered 40% less than the recruiter's specified range - slightly less than my current income, and lower than the desired salary range that I specified on my application. They weren't willing to budge (except a signing bonus, which I consider a gimmick), so I declined the offer.

At this point I'm trying to figure out what happened. The problem wasn't my experience level, as they even said I was technically overqualified. Do recruiters lie about salary ranges to attract greater interest? Perhaps that is a well understood fact and I am simply naive, but I'd like to hear what others have experienced.
 
Came into this thread with a different idea of what you meant, but essentially yes, recruiters lie.
 
Now they won't leave me alone...the hiring manager sent me three e-mails and left a voicemail on my phone today.
 
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