I've never worked in the financial sector. The truth is that there's just vast differentiation in how companies treat and pay developers. Some companies basically don't recognize the need for quality and pay all their technical folks <$120k across the board.
I think it is less about recognizing the need for quality and more about not needing nor being able to afford those skills.
It's like mechanics: F1 mechanics make a hell of a lot more than your average wrench turner (for good reason). If you need someone to look at your Corolla you don't need that extra skill and you couldn't afford it even if you wanted it.
You're assuming management competence (ie. that they know what they need).
I've seen way too many companies where they have 3 or 4 developers doing work which 1 competent developer could do, but they're unable to hire or retain competent developers due to poor pay. They'd actually save a lot of money by paying better.
