I can only speak for myself, but as an employee of "big tech" from 2016-2021, my own personal inflation resulted from the massive pay those companies offered. My startup was acquired in 2016. Net result of my 1% of stock was $0, but the comp package at the new company, while below average for that role, still represented a 130% pay increase. Over the next two years, stock appreciation alone added another 30% on top of that. Moving to a FAANG ended up being a lateral move, but that companies stock doubled.
The net result was that between 2016 and 2021, my compensation increased a whopping 460%. I know I'm far from alone in that as well. If anyone was ballin', it was (IMHO) far more related to the bull market than anything else.
I think it was the bull market combined with specifically a "hiring bubble" caused by aggressive, competitive hiring and acquisition practices as a risk-mitigation strategy to prevent disruptive competition
The net result was that between 2016 and 2021, my compensation increased a whopping 460%. I know I'm far from alone in that as well. If anyone was ballin', it was (IMHO) far more related to the bull market than anything else.