It's meaningless to directly compare software engineer salaries with the rest of the general population because our work is a 'force multiplier'. A single software engineer can displace the labor of 10 staff - often permanently. While we're compensated more highly than 1 lower-skilled staff member it's still actually not commensurate with the amount of value we actually deliver. My (unscientific) belief is that we ac…
Erm... How many people are fed by a combine harvester driver? How many babies and mothers are saved by the staff of a modern hospital, who drastically lower child mortality? If 10 future programmers are delivered by a single nurse, should she be paid 10x what a programmer makes? (Supply and demand I get, "force multiplier" I don't get.)
The other way you can go is a qualitative improvement, which is where the child mortality example comes in. If one engineer can remove 75% of the fuck-ups caused by manually performing a task, then that is also worth money, but it's not valued in quite the same way. You'd value lower child-mortality in person-years of economic output (accrued to society), quality-adjusted-life-years (accrued to the individual) and diminished malpractice suits/insurance (accrued to the hospital or the insurance company).
Perhaps a better term would be "productivity multiplier". Productivity is a pretty standard economic measure (average economic output per individual), and engineers both have much higher economic output per individual, and can greatly increase that output for other individuals as well (often with a one-time investment).