I think this is true for chemists with a lot of experience, but starting out in the field is brutal for most. Finishing your undergrad and realizing the most you can make is around $35k/year doing basic lab rat work is tough. The only other options are to go to grad school or leave the field entirely. The grad school route offers another 4 to 6 years of low pay and then possibly having to go through a post doc to ultimately land a job paying 80-100k/year. Tack on the student loan debt (from undergrad) and it paints a bleak picture.

Background: I studied chemistry as an undergrad and started a PhD after an internship at Merck. I couldn't see how I could support my family long term so I switched to tech.