Second the pay also usually includes retirement benefits that can pay you 100% off your salary after 30 years. This is hard to compare to private industry since 401ks have replaced pensions. This is probably worth 2-5m when mature, and is accounted for in their pay. I think this is the biggest issue, since private employers pay higher expecting you to invest in your retirement.

Benefits are also usually good with small if any employee contribution. Probably worth a few hundred dollars a month.

It’s almost impossible to lose your job teaching. It has a factor of security that does not exist in private industry.

Pay raises are automatic. Primarily it’s based on years of service and level of education.

I’ve run the numbers previously and it starts seeming fairer, but due to the retirement impact it makes buying a home in the Bay Area almost impossible.