If you look at the revenue, number of employees and cost of living in the area it isn't so hard to calculate a sensible salary.
The weird thing in the west are these MBA types who feel they must force down labor cost even if it makes no difference for the company. I've seen lots of truly absurd examples of it. My favorite are the giant factories full of state of the art machinery and near perfect automation. 90+% of the employees are gone but the business logic still instructs to squeeze them. Like trying to squeeze wine from rocks.
If LLM's live up to optimistic speculation you can "soon" have a single employee run a large complicated software project with a low bus factor. Someone somewhere will think it is their job to make sure the dev costs the absolute minimum and works day and night. To spend $100 to squeeze $1 extra out of them is a job well done.