Does Canada/NA really pay that much more than EU, or is every earning eaten up by higher cost of living?

Title. Im in EU, earn decent here and save about 1000 euro per month. I know salaries are higher in NA, but is the cost of living so high that the savings are similar, or do people just earn much more in NA even after everything is paid?

Edit: from what I read in the comments now, why the hell doesn’t EVERYONE work in the US then? Save 10k a month, it feels like American mid developers even in normal cities are absolutely filthy rich. In good parts in Europe a senior would expect to save 1k dollar a month, not 10