I think people overestimate the degree of salary differential between tech employees in the same nation but different offices/working remotely/etc. There are strong process/internal fairness/social reasons to not adjust as aggressively as a cost of living calculator suggests.
I'm not saying that can't or won't happen, but I don't think it's obvious that CoL is very important currently and I would be curious to know why that's expected to change.
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Oh, I agree that CoL doesn't seem to dominate globally (but could be Simpson's Paradox), and probably won't. If we live in a world where the major bottleneck to remote work was cultural inertia, timezones, and language barriers, I expect Canadian salaries to shoot up. ¯\_(ツ)_/¯
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