I think that’s part of the issue. For example, if you require engineers to have licenses and stamp designs, this gives engineers more leverage for pay. This extends to software engineering as well.
Licensed engineers today don't really get that much benefit in increased pay these days. It's just considered part of the job and it's really your professional liability insurer carrying the most burden and hence your premiums. Lol
If a job requires a PE and not all engineers have a license, that constrains supply. If you believe that the balance of supply/demand influences pay, then it can lead to pay increases. The issue is that most jobs that require PEs are also in industries with lower margins (eg construction). I suspect that if social media software engineers were regulated to require a license, those with a PE would see an increase in pay.
