No. Compensation is always tied to local economy. That would imply that for identical work a person in SF would be paid the same as a person in let’s say India

No. Compensation is always tied to local economy. That would imply that for identical work a person in SF would be paid the same as a person in let’s say India. That is great for the person in India if they get as much as the person in SF. But, what about the reverse, would a person in SF be OK getting the same compensation as the person in India? What about how much they can spend? Are the corresponding wages sufficient to live? You have to consider both cases, not just assume that everyone gets SF wages regardless of where they live. And the impact on local economies when these high earners go to low cost of living wages places and buy all the real estate? Will the locals be driven out? And so on.....