this post was submitted on 06 Jul 2023
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Isn't the question rather "why do US companies do that" when they could get away with paying less?
I can only speak for myself but I'm not keen on constantly job-hunting like I see so many US engineer advise. I'm looking for a more stable situation where the company seeks to hire long-term, and often in those cases you get benefits that are not monetary. Free access to partnered places like fitness studios or swimming pools can't really be rolled into your salary, but if you use those often you end up with a financial benefit too. Automatical raises when your child is born is another.
Maybe it's just a different culture, but I'll trade in some base salary for a work environment based on mutual trust and goodwill.
I mean you don't have to constantly job hunt but you have the option of doing so if you want to maximize money. And enough people doing so raises the compensation for everyone even if they don't job hunt constantly.
Maybe there already lies another reason for the lower salaries - if you are from a country which traditionally had your company actually appreciate their employees and make them feel valued, and historically you just had to land your job and could expect to stay with the company the rest of your life, you will not be actively looking unless you get laid off. Loyalty on both sides is still quite common where I live.
Loyalty is all great until a depression comes or a bad decission causes layoffs. Then suddenly all the loyalty and being a family means nothing. I think back in the days when 5% raises were the norm and you could buy a house in 5 years on one income being loyal made sense. Now since companies do not keep up with inflation and the standards of living are so high I believe its in your best interest to do whatever its needed to get a better job. If staying in the same company gives you that its great but most often than not changing jobs often and testing the market will do you better imho.