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Hold up, just so we're aware: STEM covers not only tech but also sciences.

Let me say here I know three chemist undergrads that have been in the industry for 5-8y+: none are happy or over six figures.

I am an ex-biochemist and trust me, PhDs in academia are not making six figures.

There is a divide there between tech and science for sure. Of the maybe 25 or so younger people I worked with in the lab, the ones that did very well moved to tech. The ones that did ok were either from other countries, or their parents paid their way. Very few US people from the lab that stayed in science that had loans, paid off their loan. I can think of one.

Lab work is super underpaid, and you need every degree in order to even get your foot in the door.