[staticint]

As always, prices are determined by supply and demand.

A price is too high if the buyer can find the same thing (another programmer considered to be an equal hire, in this case; people are not commodities so this can be difficult to evaluate with absolute accuracy) for less. A price is too low if the buyer cannot find the same thing for even an equal amount.

The price is just right, at that moment in time, if there is a mutual agreement between a buyer and a seller.

[burnallofit]

And ... we control the supply. If we all agree, we can set pricing however we want. Yes, it would be a monopoly/union/cartel, but OTOH, we could double or triple our take home overnight.