Not really. Public school teachers are well paid when you consider pension, tenure and low stability. Working in industry can pay more than teaching but this is not a guarantee. A public school teacher doesn’t get fired when they turn 40, or laid off in a downturn. It’s less about money and more about qualifications. having a chemistry degree is not the correct qualification to teach chemistry in a public high school. The labor market between stem practitioners and stem teachers are really not substitutes in any practical sense.