US tech wages are insanely inflated compared to, well, everywhere.
I once watched a Vice President at an all hands explain that the company's decision to have non-competitive wages was because "it's not that we're underpaying, it's that everybody else is overpaying. If you want to go somewhere else to get overpaid, that's not going to last." I think about that every now and again and chuckle.
I hate this crab in a bucket framing. It's so anti-working person. Why isn't it that wages are insanely deflated compared to the US?
US tech wages are what everyone should be making. Tech looks high compared to everyone else, but it is more that everyone else's wages got suppressed.