I'm now 24, if I got a job stacking shelves at a local supermarket I'd get paid 14 euros an hour without needing a diploma. He effectively makes 16 euros an hour, only I build up my pension, get more time off, get benefits and protection, and he's in his 50s with over a decade of teaching experience for which he receives excellent ratings, has a PhD in Physics and work experience at a Nuclear facility.
This seems awfully silly, especially with the cost of education having outpaced CPI by a wide margin for the past what, 3-4 decades while classroom sizes ballooned to 200.