I've worked for 2 of the top 5 US banks and salary is commensurate with local markets. Example: folks in Phx or DFW make less than those who work in Cali or DC or NY. Just how it is.

One can make 200k+ a year, but one has to actually reside in one of the high-cost areas. And honestly, having done the math, one makes LESS in those high-cost areas, regardless of salary increase.

I don't blame employees to playing the game, but they took a gamble that they were indispensable, and now they are finding out they are not. Sucks to be stupid!