A good rec from a strong researcher carries weight. Likely lots of execs, managers, and senior engineers in the ranks of their academic siblings, old grad school friends, collaborators, former students, etc.

It’ll add a band or at least max out comp in the existing one if the right person gives the right rec.

And that’s assuming the undergrad research project was totally irrelevant to the position. New grads who can contribute to cutting edge stuff are super hard to find and super cheap relatively speaking. Usually your options are super expensive engineers or the few phds who decide to go into engineering instead of research.

I’ve seen undergrads sign in the 3s and 4s when their research aligns perfectly with the advertised position, cause the alternative is often buying the kid out of his startup a year later.