This is driven by salary sharing companies, such that companies benchmark to each other, which tends to be lower. For the specific case of London (and more spe

This is driven by salary sharing companies, such that companies benchmark to each other, which tends to be lower. For the specific case of London (and more specifically Facebook), this is driven by the fact that FB/Goog don't count tech people in finance as appropriate comparators. I suspect that this is not true in NY/USA.