Isn’t this a basic result of supply and demand?
The reason that most STEM people get paid well is that less than 10% of the population can handle the academic workload. The reason that some finance people are paid very well is that being able to make money consistently is a rare commodity in itself. Compared to the general population, both are in limited supply.
When it comes to teaching, some enter the field because they love to teach and they recognize it is an important job. But in past years, many chose it because it was an easy degree that led to a reasonably well paid and very secure job with extravagant benefits. Lots of supply relative to the steady demand.
Teachers are far more revered in east Asia, and some of the strongest students enter the teaching profession. I would like to see that model take hold here, but I think the unions would be against it.