As an engineer I have a really strong opinion about only finance being left in Europe and all the engineering being outsourced to cheaper countries.
I personally think in tech the ladder to the top is made so you have to switch to management at some point in order to promote any further. I see managers and people that actually want to volunteer to become a manager instead of an engineer as the root of this problem. At my company we organize the hierarchy more like a hospital or a law firm, with the best engineers having the highest positions, just like partners at a law firm.