I don't entirely disagree with the premise but, knowing that there are companies with money printing machines paying top dollar, rationale talented people will

I don't entirely disagree with the premise but, knowing that there are companies with money printing machines paying top dollar, rationale talented people will all leave those other industries that don't pay up for ones that do (regardless of whether it is deserved or not). In my experience in other industries, the 80/20 rule applies in that 20 percent of technology employees deliver 80% of the value, but the pay is not well differentiated. In my estimation, many companies could fire half their tech employees, give the rest a big raise and come out more productive.