I realize that experiences vary, particularly if you are comparing different types of software development (e.g., shrinkwrap vs. departmental IT), but I have to say that $125K/year for 3 years of programming experience does not correspond to what I see being paid in the Seattle area. In fact, I recently had a conversation with a VP about whether $120K was too much for an experienced systems architect.

Please understand that I am not making any statement about whether talented programmers are worth $125K/year - I am simply reporting what I see on the ground.