This is unlikely to be true. Bad decisions are your biggest cost.

An employee has a "return multiplier" - for every dollar you spend on them, what is the return to the business? Sometimes it is high. If so, the developer is very cheap. Sometimes is it low, or negative. If so, the developer is expensive.

Why would it be high or low? Part of that is developer skill, but mostly it is how well your organization runs itself and makes decisions.