[lazide]

So I think the answer is often ‘well, they often can’t go and get 3x the salary’? At least pragmatically, compared to theoretically?

[throwawaygh]

"First, they don't" is the top-most answer.

Also, the multiple is closer to 10x for strong faculty candidates if we're talking about teaching-focused roles. A lower-tier college/university (non phd granting) will offer 60K - 80K for a full-time faculty position. A PhD with 5-10 years of industry experience will make >500K if they are maximizing for income.