Don't know about other professions, but typical pay for software engineers in Europe only like $60K a year, perhaps some European software engineers working for European corporations can chime in.

Yeah, in Austria this includes 5 weeks mandatory PTO, unlimited paid sick days, which you can actually take without getting fired, and paid maternity and paternity leave - a senior developer will get around €75-80k a year.

Consulting rates for SWE here are around €80/h - €120/h depending on seniority and customer, maybe this makes for a fairer comparison.