Not necessarily. I have been working fully remotely for a USA organization, although being a non profit the compensation is nowhere near FANG or anything from tech.
I have some ex-coworkers and acquaintances working remotely from Europe for Bay area companies and they definitely have way higher compensations even without taking in account stock options.
That to me is the true American dream, work for an American company without living in an America. I just hope for that to happen one day, although for now I am happy where I am.