Earlier quoted context omitted.
$120k USD is triple the median and double the average wage of the highest paying countries in the world. It's not "fine", it's absolutely absurd and puts a junior into the top 20% of earners _globally_. It's grossly overpaid, and people need to appreciate that more.
That, to me, says more about how other professions are underpaid, or perhaps just that software creates a lot of value. The work my team is directly responsible for generates tens of millions of dollars for my company - 120k feels appropriate.
I think the latter more than the former. People forget that software and the internet in whole are a relatively new industry and area.
Throughout most of the world (including most of the US), $120k a year is enough to buy and fully pay off a mortgage on a house in a city in < 10 years - even after tax.