I'm not so sure -- the in-concert RTO hardline from FAANG has a very "collusion" vibe to it. Those CEOs probably got together specifically to undermine the labor market's natural incentives. It'd be great if the DoL looked into that like they did when these CEOs colluded to keep salaries and comp down across Silicon Valley.

And don't forget that these companies all have policies of not hiring high-level ICs from the outside. So if you're at that level, your options to jump ship can be quite limited unless your current employer is truly toxic. Again, a practice designed to keep comp at the top IC bands down.