Not in the UK from it tech and engineeing jobs our pay is much lower compared to SV and housing costs a lot more. The only advatage we have is only paying 12% for NHS etc instead of 20%+ just for health insurance.
I was talking more about the mainland - Germany, Netherlands and Belgium to be more specific... But you can't really compare anything with the Silicon Valley directly - IT and engineering jobs are present all over the US, and they pay less than SV companies and startups, too...