Hands down, the number one problem in hiring and retaining senior engineers is being able to match the compensation level. FAANG-type companies have a huge difference to practically everyone else. Startups, especially, can’t match the salary, and few make up for it in equity comparable to the risk level engineers take on by accepting the job. Senior engineers typically know better, and so you end up with mid or even…
The difference being that the FAANG-type companies don't pay well enough to make up for the cost of living. Senior engineers seldom want to live in tiny apartments. See if you can prove me wrong: find a 10-acre lot within a half hour commute, with a large single-family home, that is affordable to a senior engineer. Alternately, make it 1 acre, but within a 5-minute commute.
Wait what? What city are you talking about that has a tech hub or commercial center within a 5 minute commute of 1 acre homes?