Almost nowhere pays $700k for a SWE. These numbers come from stock grants or similar financial instruments; that money gets realized eventually, but it's not guaranteed in the same way that a fortnightly bank deposit is.
In other words: 700k is 700k when realized, but there’s no particular guarantee that so-and-so many units of stock are worth that much; it depends on the market. Comparing TC as if 700k is guaranteed is misleading.