It really depends on how your departments runs. A lot of times the gathering of requirements for BAs is by far the hardest, most time consuming, most frustrating task on the project. They have to travel, deal with users / clients, play political games, etc. If the programmers are more of code monkeys in the organization: in that they get tech specs with pseudo code and just transition it to real code, then they do not necessarily deserve to get paid more.
I have been a support analyst, programmer, software architect, and BA (and worked with several PMs). You really can't have one blanket generalization in this area because it completely depends on structure and job responsibilities.
Exactly. The answer offered here is surprisingly ignorant and one-dimensional. The reality is that there aren't two types of software development companies, there are a spectrum of them.
At our company, because we don't sell products, client interaction, requirements gathering, coaching, politicking, etc. are all extremely important functions. It's really, really hard to find people who get our industry and can do this well. Often because of this they command a high salary.
On the flip side, we pay our developers above-market rates, and again it depends on their skill level and interaction with our clients and even with each other. Scrum Masters will earn more than developers (in most cases, not all). Senior developers will earn good money too. An entry-level developer will earn about the same as an "analyst" or product manager.
I have been a support analyst, programmer, software architect, and BA (and worked with several PMs). You really can't have one blanket generalization in this area because it completely depends on structure and job responsibilities.