Once you find the person stupid enough to accept crap pay for doing something that earns you tons of profit - are you sure you found a person smart enough to do what you need?
There is a big difference between "how much value you create" and the percentage of that that you can capture for yourself.
In the non-labor market airlines a great example of this. They create tremendous value for their customers (fast long distance transportation), but the industry as a whole is not very profitable.
Same for employment. Many (hopefully most) employees generate more value than their salaries, but that does not mean they can negotiate for that value to be added to their salary. If there is someone else with similar capabilities willing to do the job at $x, then negotiating pay above $x will be difficult.
accepting "only" $30,000 at the age of 22 is a lot less stupid than accepting "only" $30,000 at the age of 52. people's lives and motivations are vastly different, especially the most qualified, smartest people's lives.
