I'm in a high COL area with high engineering salaries and a few years back I got an offer from a company in Chicago offering about 20% more than I was making at

I'm in a high COL area with high engineering salaries and a few years back I got an offer from a company in Chicago offering about 20% more than I was making at the time (which was a healthy wage in my area). Their interview process was thorough and a bit stressful but I'd rate it excellent as far as screening goes. I ended up not accepting the offer, but it was a great experience and I actually felt a bit sad at having to turn it down. The company knew what they were looking for in a senior engineer and weren't looking to lowball anyone. I assume that many companies are in a position where their local talent pool is shallow or the market where they're at is so high that even hiring someone remote from another premium market can save them money, even if it's still a very fair wage.