Software TC has outpaced high finance for almost 15 years now, especially for the kinds of candidates who had the option between the two.
I went to one of those universities where CS grads had the option between being a Quant at Citadel, an APM at Google, or an SWE working on an ML research team. Most CS students chose 2 and 3 because the hours worked were shorter than 1 and the hourly wage and TC was largely comparable.
> may have no interest in real technical progress.
Hard to make technical progress as (eg.) a cybersecurity company when most CS programs do not teach OS development beyond a cursory introduction to systems program, and in a lot of cases don't introduce computer architecture beyond basic MIPS.
The talent pipeline for a lot of subdisciplines of CS and CE has been shot domestically for the past 10-15 years when curricula were increasingly watered down.