This might be surprising to some. But many people are simply not highly motivated by money. Sure, some amazing teachers simply can't stick with teaching because it doesn't pay enough, but a lot make it work.

10 years ago, at my university, I remember there was an opening for an English associate professor. They had over 300 applicants. I guarantee you there were lots of amazing teachers in that group because they certainly weren't doing it because of the $38k starting salary.