Are you sure this number still applies if you're outside of US (London, Toronto, Sydney)? My understanding is that numbers in Europe are nothing like those in the US.
I make $50k-100k AUD less in Sydney compared to Bay Area, with all the same HCOL problems.
A very, very good new grad total comp figure in Sydney is say, $150k AUD. That's $106K in USD, which is less than the salary for a new grad at Google or Facebook in the Bay Area. Throw in RSUs, signing bonus, and performance bonuses, and a new grad is making $50-100k AUD more.
The quirk here is that due to the E3 visa, it's about as easy to hire Australians to work in the US as it is to hire them to work in Australia. So why pay more for folks who stay at home?
What do you mean by this? I could imagine a scenario where the E3 visa puts positive pressure on Australian Software Engineer salaries, causing them to rise.
London and Sydney have insanely high costs of living so recruiting and retaining skilled people means paying high in the first place. In London or Sydney you can make £100k or $140k as a good developer. Google simply pays double that at L5 so you don't think about leaving.
I make $50k-100k AUD less in Sydney compared to Bay Area, with all the same HCOL problems.
A very, very good new grad total comp figure in Sydney is say, $150k AUD. That's $106K in USD, which is less than the salary for a new grad at Google or Facebook in the Bay Area. Throw in RSUs, signing bonus, and performance bonuses, and a new grad is making $50-100k AUD more.