Would you switch to a different company for similar pay ?

Depends on wlb and overall culture of company

Sometime culture and trust plays a huge part when it comes to switching for same pay. Say you are at 12 lpa and have a terrible boss to deal with you will still stay as you will want a higher pay to switch. If you are on a way higher pay and have to deal with a shit boss, you wont mind to even take a paycut because sanity is what you’d want (Case in point high attrition rates at top management levels across various startups)