Pay versus value. Managers versus IT
I could rant all day on this but from a perspective on both sides as I've worked in this industry for 25 years+ as a techie, consultant, freelancer but lately as CEO at a startup.
IMHO there are two things that determine your salary, in the small-mid private sector, no matter what you do. Market Rate and Value. If you are getting paid above market rate it means you deliver superior value if you're getting paid below it's because you are mediocre (and you believe so or why are you still there). If you are on market rate why should you be paid more?
Value is determined by your ability to contribute to the bottom line, because if the business makes little to no money, due to high fixed salary costs, the shareholders/investors will pull the plug as it's their money you are burning and maybe they can get better return on their investment elsewhere. The person likely to get paid the most in a company, even more than the CEO, is a star sales person because bottom line is they deliver more value.
I believe our profession has an over-inflated view of our worth due to skills shortages holding up salaries compared to salaries in other professions with more professional training requirements, responsibility, stress and accountability.
In general as a profession we also have a disparaging view of people who deliver other essential elements of a successful business, customers, suppliers, sales, marketing, administration, finance, debt collection, legal, recruitment etc. all of which need dedicated professionals to be in place for a business to be successful. Many of which are likely to be paid less than the average IT professional.
Bottom line, if you want to be paid above market rate, deliver more value to your employer. There are some star tech professionals that do this and believe me they get paid more than their managers.