I don't have any proof, but I think it's wage fixing. Not just in Canada, but nearly everywhere outside of the United States.
I'm personally convinced that the only reason that engineer TCs in the United States are so high in comparison to everywhere else is because wage fixing is no longer an issue, thanks to legal action in California in the late 2000s/2010. It's kind of crazy to think how recently it happened. Just in the last ~10 years.
Top-band compensation for ICs went up significantly year-over-year, and it hasn't stopped rising yet. It's also dragged pay for engineers in the rest of the industry upwards. Startups and non-FAANG companies can't directly compete with top band TCs, but they're forced to at least try with higher salaries.
I'm personally convinced that the only reason that engineer TCs in the United States are so high in comparison to everywhere else is because wage fixing is no longer an issue, thanks to legal action in California in the late 2000s/2010. It's kind of crazy to think how recently it happened. Just in the last ~10 years.
Top-band compensation for ICs went up significantly year-over-year, and it hasn't stopped rising yet. It's also dragged pay for engineers in the rest of the industry upwards. Startups and non-FAANG companies can't directly compete with top band TCs, but they're forced to at least try with higher salaries.