It's not just a vanity metric. The reason they choose to pay at a very high percentile of the market reference point is so they rarely have good candidates decline offers. Big Tech wants to be in the position where when they see a good candidate that they want, they get them, and don't need to worry about them going to a competitor. And they can usually afford to make that happen.
And knowing that puts you in an even better negotiating position. I got $150K/year extra in stock (which turned into $300K/year a year later when the stock doubled) with the 5 words "I respectfully decline your offer." If they want you enough, large pools of extra money are available to prevent you from declining or going elsewhere.
And knowing that puts you in an even better negotiating position. I got $150K/year extra in stock (which turned into $300K/year a year later when the stock doubled) with the 5 words "I respectfully decline your offer." If they want you enough, large pools of extra money are available to prevent you from declining or going elsewhere.