...higher salaries in one place tend to pull up salaries elsewhere too. And conversely, if you push down the top, you also push down the middle (under the optimistic assumption that the bottom can't go any further down...).
Also, it's easy for other industries to then justify with: "hey, even Google is doing it, and they were they guys supposed to 'do not evil', amirite?".
That's the problem with unethical behavior, we're all into copying and generalizing stuff :|
Indeed- I thank the FANGs everyday for pulling up my salary. In 2013 I was making about 1/3 what I am now in the financial industry in NYC doing algo trading/HFT. I was reluctant, but after years of seeming to miss out on the big money that everyone talked about finance people making, I finally just decided to look outside the industry. I got a remote job with a company in the valley, and got a 60% increase in comp, that after 3 years grew to just a hair shy of 100%. I was pretty much the first defector to leave finance for tech in my circles, but more followed. I jumped around one more time, with a financial company who truly pays top tier salaries (to match tech companies), and am now making a full 3x what I was just a bit over 5.5 years ago, with a much better work life balance and general work environment.
I can't imagine this would have happened without Goog/FB/Apple/Netfix, etc. Every day I reap the benefits of their competition for talent without having worked at any of them.
It’s happens a lot more than it’s talked about. When a few people left the company I worked at for Rackspace who was paying a lot more the CEO of my company talked with Rackspace into agreeing to stop interviewing people from my company. I moved on from that company after the CEO admitted to the agreement.
It’s a practice older than IT. Hard to judge the man on that alone.
Also, it's easy for other industries to then justify with: "hey, even Google is doing it, and they were they guys supposed to 'do not evil', amirite?".
That's the problem with unethical behavior, we're all into copying and generalizing stuff :|