[Traster]

This is absolutely true. I worked at a large engineering organisation, I was a manager so I could literally list the salary boundaries for different experience levels. Now I work doing the exact same job but in a finance related company. I earn ~6x what I earned in the traditional engineering org. It's insane. Also, the quality of the engineers is no higher, and in some cases comically lower.

The exception to this are companies that pride themselves on their silicon valley culture (Google etc) although some of those still choose to take advantage of the cheap local market.