That depends on the field. At least in my field, doing identical work in industry starts at 100k, while a postdoc salary would be 35-40k.
Which one is the "market" rate?
Which one is the "market" rate?
A. $100k in cash compensation, or
B. $40k cash + a shot at becoming a tenure-track professor.
The market is saying that opportunity to possibly become a professor is worth $60k.