Oracle offers graduates of top CS programs competitive packages and even slightly better than average packages. Yet, relatively few take those offers. One candidate we tried very hard to recruit (MIT grad) said that he heard Oracle was slow, bureaucratic, and didn't give new grads challenging work. Oracle definitely has a poor reputation with the top universities. Even more telling is that very few of the hires stay past the payout of their hiring bonus (paid over 2 years). Many leave before that. If someone leaves significant money on the table, you know they hate their jobs. Most development jobs at Oracle s--- due to bad management. With so many good jobs for CS grads, why would they come to Oracle or stay at Oracle? As an early poster said, only the old guys with kids in college or close to retirement stay.
The developers in the bare metal group are getting paid 2 or 3 times the usual salaries and they still have to pile on options and bonuses to get them to stay. Oracle just doesn't have the culture to keep a good development organization, at least not in the US.