Re: Ah, the good old days...
But it does. We have employees all over the world. even in the US if a project manager moves to CA for a project they get paid more due to the higher cost of living. Of they then move to, day North Carolina the compensation is adjusted accordingly.
FYO: In this case I'm talking about Construction PMs.
A remote worker in Florida, (no state income tax) will probably take a job at a lesser salary that a remote worker in NYC (State AND city income tax).
As some one who works for a British multi-national construction company I once was asked if I would be interested in taking a position in London. I declined. Why? Cost of living was quite high and salaries were below what I was making in the US. (I was surprised at the level of salaries in the UK. This was 2005 BTW)