So I'm 20 and I've started looking at the salaries of jobs/careers, and this is the impression I've gotten. Like that you could spend years cramming a ton of knowledge about a very niche field, and still only get 2-3x what a run-of-the-mill job makes. Is this true? If yes then I guess this route to wealth would only make sense (due to the diminishing returns) if the topic truly spoke to you, right? Are there alternative career paths to good pay than being really good at something really specific?
What are your x and y axes here?
X is years of experience , y is a combined axis, technical knowledge for the green line and salary for the red line
Y is wage, X is experience. Green is just Y=x
So then what does the green line represent?
my understanding is the that green line represents the linear relation of salary to knowledge which OP would consider fair and just. therefore the part where red line is above the green one means people who earn below average are overpaid for their knowledge and professional contribution. and similarly, the part where the red line is below the green one means people who earn above average are underpaid
Y=x