I don’t know if that’s true. I live in Palo Alto and know a fair few people at a fair few companies. Outside of a handful of companies they’ll only be hitting those with illiquid highly-valued stocks - not with base & bonus.
The point that kinda got lost here is that outside of the big tech circles, equity packages are basically non-existent. So, whereas in, say, Google Canada, you might make CAD 150k salary + 100k equity, in CGI[0], you might only make a CAD 120k salary with no equity grant for a similar level of seniority.
It is an unfortunate truth that Microsoft's pay between entry level to somewhere around principal is not competitive with a substantial number of companies. That is not to say that Microsoft doesn't provide other benefits, but top tier compensation is not one of them.
I don't mind. When I look at the vast majority of software engineering jobs out there even Microsoft compensation is good, and perfectly fine for Seattle.
I used to work at Google too (in Mountain View). Believe it or not I liked working at Google and I also like working at Microsoft.
I don't need to chase top tier compensation. I just do things I enjoy where I'm learning and my career can progress. Right now I'm mostly writing in Go working on an OSS project managed by the Cloud Native Compute Foundation.
As an aside, early retirement is not a goal of mine.
Keep in mind that in conversations about big tech compensation, the baseline is typically Bay Area salaries. This is the area where you can find the most public info on (e.g. levels.fyi). In my specific case, I'm talking about Toronto, where a senior dev salary for a local shop is around CAD 120k/yr. For comparison, a L5 role in Bay Area job offer is around USD 150-200k/yr salary plus another 100-150k equity (plus a few more thousands in yearly bonus). For Toronto specifically, these number more or less translate 1:1 (i.e. you could expect a CAD 150-200k salary + CAD 100-150k equity, for a total compensation of CAD 250-350k). In Bangalore, the total compensation after currency conversion is going to be significantly less than Toronto's in terms of absolute dollar value, though it'd still be quite above the local average.
For a public big tech company, USD 250k total compensation for a L5 in Bay Area is pretty low ball. For a pre-IPO company, you might be looking at USD ~200k/yr cash, and if you're lucky to go through an IPO while holding RSUs, you'd see a huge income spike on the IPO year. Note that pre-IPO companies still count paper equity in their TC numbers, so a 300k total compensation number might actually just be 200k cash + 100k paper money.