Sure, who doesn't want unlimited money? That's decidedly different from "needing" it (I could in no way manage to live on the West Coast on a Spanish salary, for example)
Sky-high cost of living (property prices, mostly). Shitty apartment with a commute in the bay costs $3,000/month. Starter home in Seattle costs a million plus.
It's also a vicious cycle: high tech salaries in those areas have driven up the cost of living.
> But a high tech salary in that area doesn't put them in the percentile we were discussing.
Not on the West coast, no, but my contention is that my comp when I worked for a FAANG in Seattle (5 years ago) would put me well into the top 0.2% of Spanish earners
One might argue that it should, but as a remote worker in a low cost area I don't mind making 20% less than my NYC/Bay colleagues as I can still live like a king in my midwest city on regionally adjusted swe comp.
