In my 30 years in the biz, I have noticed the counter trend to GCSAA trying to boost image and salary. And that trend is towards management companies, who generally pay less than private clubs, maybe more to pros than superintendents.
That said, I have also seen a trend in the best management companies towards keeping good supers. In the earlier days of the wave, they didn't respect what the supers did, IMHO, and often went the cheap route. Of course, savings is what they sold to at least municipalities who had let their budgets bloat a bit.
But, as someone noted, all it takes is one year of lost greens turf to balance out those salary savings and I don't see many turning over the reigns to 25 year olds any more. I used to tell a joke that I heard a management company had fire employees and used the golf course dog to maintain the course. When I called the course to see what conditions were, the super answered "ruff."
Also, management company maintenance budgets were often a fraction of what others had, but that gap seems to be narrowing in general, although I can't say it is universal, and I am talking from experience from some of the bigs. Chambers Bay and Kemper is a good example of giving a course what it needs to fulfill its function, albeit, at the top end of the spectrum. Kemper does a wonderful job at the mid level courses of mine that they manage. Nice balance of budget and results.