You forgot the law of Supply and Demand. There are thousands of teachers who cannot find a job - good, young, modern teachers. You could pay teachers anywhere from $40 to $75K and you'd still have a large supply. The Teacher's Union - as an example - has artificially inflated salaries and benefits, creating a closed model that protects it from Supply and Demand. No matter how you view teacher's wages, one can't deny that there are literally thousands of young, educated people who wanted dearly to get into teaching - but can't.