Or rather why Europe pays so bad.
I wonder whats the reason behind many american companies being able to pay 200-400kusd a year while its hard to get past 100k usd in the richer countries of Europe (Germany, Scandinavia, UK, etc.). A junior in USA gets more than a senior in Europe. And after 10 years the american may get 2-4x the salary of the european counterpart. In contrast life in USA is often even cheaper.
- Are european companies greedy?
- Are european companies less competitive?
- Are the high taxes and equality in Europe pushing companies to not try harder to reward talent while USA rewards the high performers as they can see the benefits it brings?
Also FAANG salaries are also quite high in europe. Just look at levels.fyi. In local or non-tech companies in the US salaries are also much more in-line with europe and actual difference will be much much smaller
I can see statistics of US companies vs non US companies where I am and they consistently pay 30-80% above market value. I havent seen one go below 30% over. Its not only FAANGS. They just pay much more