I fundamentally disagree, as a similarly senior person at various globo mega FAANG corps, my observation of the dynamics is managers are paid more at some companies because managers set compensation and there is a social barrier to paying subordinates more than their managers. At other globo mega FAANG corps you get paid what is required to retain you. Most engineers make less than there managers simply because the managers are more senior in their career and have a lot of options at competitors. But exceptional engineers are wildly rare and in demand breaking the highest pay bands. This also holds for other fields where there’s the two sigma IC who is a rain maker - sales, trading, etc. I’ve never seen a company that’s unable to fill even its most senior ranks readily, but I’ve seen many that can’t retain star traders or sales people or engineers and it’s usually an unwillingness to break the social taboo of “overpaying” an IC. Those companies don’t understand how markets work and generally their competitive performance is lower than the companies that pay what they have to pay.

I’d note shittiness of the job is not a compensation decision factor. Otherwise slaughterhouse employees and social workers would be paid better than any of us.