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From BA/PM perspective here are some possible reasons (with no disrespect to programmers):

1 BA/PM generally spend most of their time dealing with politics, governance and bureaucracy.

2 BA/PM spend a lot of time trying to elicit requirements and deal with scope creep.

3 BA/PM act as a conduit between parties and stakeholders who rarely agree. They attempt to gain compromise and keep the show on the road.

4 BA/PM take some risk and responsibility for things going wrong. And need to fix these things.

5 BA/PM act a managers, managing people, strategy, finances.

There are more but you get the context. There are lots of intangibles (or BS) needed to manage a project. You need someone to deal with it.

In certain industries BA/PM with a mixture of business, technology and BA/PM skills can demand more pay.

I was a doubter before but seeing the daily issues that come out on a challenging project, these BA/PM are probably underpaid.



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