this post was submitted on 02 May 2024
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This always comes down to the fact that labor is competitive. Why pay someone $200k/yeae when someone will do the job for $80k/year? Competition drives the prices of labor down. Maybe there needs to be better regulation for labor competition like corporations enjoy.
Assuming the same job's quality, a possible answer is "because to live where your company is you need to be paid $200K/year"
How do people live in these areas without making $200k/year?
They cannot, that is the reason you need to pay that much to work for you.
So nobody lives in these areas that makes under $200k/year?
Even the janitors?
I don't know, but if they live there, I think they have it that good.
It is more (way more) probable that they just commute far enough away from there to have lower housing cost