In EU, traditionally, business people are paid much more than technical personnel. Prominent engineers are valued, but only to some extent. For example, mechanical engineer salaries in top German corporations are not that high, and they are bringing in a lot of value.
Let's not forget most FAANG founders were computer scientists, plus there's a shortage top talent. Electrical engineer salaries at Intel, AMD or ARM are, as far as I know, nothing to call home about.
With that said, we are starting to see some IT positions with really nice compensations. Mostly in CH, NL, DK and UK as far as I can tell.
In software, sure, but to say there barely are any union jobs in the US currently is wildly inaccurate.
There are estimated to be 4.4 million software developers employed in the U.S.[1] and about 150 million total jobs[2], so about 3% of employed persons in the U.S. are software developers.
About 11% of U.S. workers are union members[3], so there are more than 3 times as many union members as professional developers in the U.S.
[1] https://dqydj.com/number-of-developers-in-america-and-per-st...
1: https://www.thebalancecareers.com/best-union-jobs-in-america...