The trouble is there are people who are highly paid because they are legitimately good at what they do. And then there are people who are highly paid because they live in an area where high pay is the norm.
Easy! If you live in The Bay Area it probably applies!
Many companies have a hiring restriction that requires candidates to live near their offices so that they can physically appear for work. This of course constrains the labor pool which artificially inflates salaries. This is of course exacerbated by the fact that in The Bay Area housing itself is also constrained, which multiplies the cost increase on local talent.
The former are going to be fine either way.
The latter are in for a rude awakening.