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>Lots of companies will openly admit they just can’t compete with FAANG salaries for instance.

Yeah. Anecdotally, many tech companies don't have big location-based pay differences across the US. But they mostly do that by not having offices or at least major offices in places like SV and NYC--and basically don't really try to salary match the big tech companies. I have a feeling that if you looked at most tech employers you'd see a lot more outflow to FAANG than the other way around.



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