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I agree that Pay is status; but I believe with a bigger pay comes bigger responsability.

Landing on a role with bigger responsability must be properly compensated or you won't be able to fill the position.

Correct, but I'd like to point out that responsibility does not imply consequences. If the higher-ups mess up they can blame it on those below them. Usually it is done in an indirect way by setting expectations. For a lot of people, if they are the ones setting expectations they mentally take themselves out of the equation, assuming they are good. They might be wrong.

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