I think the pay is more equal in Europe. I have finished multiple studies and work as a software developer, but I only make about 15% more than a friend who did not finish an academic study and works in logistics. If you're a bartender, Europe is a better place to be ;)
As someone who has to figure out what rates to pay people doing the same jobs across Europe and the USA I can say you're probably right. Our European employees make considerably less base salaries in general except for the Swiss employees who make on average typical base salaries as our USA employees.
