And 3 times the average for this kind of work in a place where 2 times the amount is the normal average is kind of crazy. And this should indeed not be an article to begin with but it is.
That's lacking enough concrete details to be meaningful. It seems to be 'more than they'll ever need' to meet the criteria of not needing to worry about money.
Do you think one of these managers could live in San Francisco without worrying about money?
20k/annum is enough for someone who owns a house and lives in a low COL area to not worry about money. (one of my friends lives like that and appears to be happier than I)
300k/annum is not enough for a family of 4 living next to Central Park in NYC.
There is no way to decide that people are making a living wage without a centralized definition of living, which most people will disagree with.
But I agree if you will live in a 30 million mansion with a view over the city, you won't have enough as a manager.