And how were the conditions 25 years ago for these same developers? Just because everyone doesn't get paid the same doesn't mean the overall compensation in the profession hasn't gone up.

I'm not sure how much it has relative to other engineering and arguably comparable professions more broadly. Maybe somewhat? But $100K+ as an entry-level in enterprise IT is probably pretty solid.

There are dramatically more software developers today in the US than 25 years ago. 1.6 million with a median salary (before benefits) of $109,000. So the field got a lot larger in terms of labor (2-3 fold depending on how you want to count it), while simultaneously paying so well - a particularly remarkable thing. Those jobs tend to come with good benefits as well, including nice health insurance (which is obviously extremely expensive in the US).

Granted, this is peak software developer and we're just starting on a downslope for the profession (both in the US and globally).

I've never lived in SV, but many many companies at least attempt to offer some of the perks big tech companies have come to be known for. It suddenly wasn't enough just to have free snacks and coke, companies started offering more free meals (if not every day), larger bonuses, better workstations or laptops, etc. It really did resonate out to the rest of the industry.