I don't think so. I remember a few years ago, when the Pillowtex linens factory near here went out of business, the factory employees (high-school education, mostly, if that) were making astonishingly high wages. Their union, of course, had made sure they did, and made sure the pay was based on seniority, rather than productivity.
This is, of course, a main reason the company closed the factory, as so many other manufacturing plants in the United States have closed their doors.
Fortunately for the tenured employees of the Education Blob, their jobs are insulated from economic stress.
a crucial distinction is that the factory union does not get to tax thee or me but the gummint misedjamakashunist union does. Also, no one will be outsourcing gummint misedjamakashun to Bangladesh, although Bangladeshi ten-year olds working for a nickel an hour are probably better informed and educated than our gummint misedjamakashunists.
"Compensation" includes health/dental/retirement bennies, as well. Remember that "retirement" means 30-and-out to collect 75% of final salary--and of course, one can then double-dip by taking a contract to teach in another district.
Total Comp for teachers is generally in the upper 25% of the US scale.