Most work in Tech companies even the top FAANG ones these days is crud work.
These people can only afford to pay well, because they make their money through advertising scale. Companies which depend on paying users, can't afford to pay that kind of salaries, nor waste their time interviewing people on rounds and rounds for proxy skills which have nothing to do with the job on hand.
In short only VC companies without profit pressure or web advertising companies pay well. Others don't have this luxury.
Anecdata: Schools that won't hire more qualified candidates (e.g. graduate degrees complete) instead preferring more green applicants because the latter are contractually cheaper.
That is, in some instances schools could hire better for the same money but cannot because of labor contracts.
You can absolutely hire a programmer for $70k if you're willing to significantly relax your standards. On the other hand, you probably wouldn't be able to hire enough teachers at existing teacher salaries if you significantly raised your standards for what counts as "qualified".
Tech companies have to use a relatively high bar, because bad developers will drive them out of business, but such market forces don't apply to schools. Unless you want to completely privatize education (which has its own set of issues) we have to use the political process to drive schools to raise their both their salaries and hiring standards.