There is not necessarily a catch. Pay is not based on cost of living -- it's set by market rates, and the market rate for software engineers in these areas who can do the jobs required at these companies is high. All these companies operate at an immense scale where an engineer, through what is often a simple change, can add significant value to the company.
So, yes. For now, these companies are giving college grads enough money to retire by 35 (assuming the college grads are halfway financially savvy).
So, yes. For now, these companies are giving college grads enough money to retire by 35 (assuming the college grads are halfway financially savvy).
Source: I am a recent college grad at a FAANG.