In the US, most educators came into the job with an undergrad degree (licensing wasn't required to be attached to a MA or MEd), and many pay ladders cap progress until that graduate degree is in hand, so I, for example, am perpetually at the 14 years of service rung (I'm starting year 33).
And to weirdly balance your point, IF you consider an Oregon-employed 26 yr teacher with both graduate and post graduate degrees, AND throw in the insurance and retirement packages as 'compensation' $150k is close. 33 yr me is at $74k salary before taxes. I'm maybe $102k with all benefits gross.