Depends which company, and whether you're looking to work remote or not. I know my employer is far closer to my number than yours, but I do expect wide variance. I'm not sure I'd call it "underpaying" just that market rate is lower in that market.
For instance, folks doing well-paid jobs in let's say China or Hong Kong aren't underpaid, they're paid well, relative to their local market. The same is true in Canada, it's just that Canadians live very close to a very different market with a very different cost structure and externalities - but 'feels' about the same from the other side of the fence. Consider 50% more folks live below the poverty line per capita in the US than in Canada so clearly it's not all bad.
Remember, Canadians can show up at the US border with $50USD and an offer letter in a SWE job and get a 3-year TN status adjudicated on the spot. There's clearly more to it.
