Being a professor is not a low paying job.
Being an adjunct professor is usually unpaid - but it's because you're a professor (or otherwise employed) elsewhere, and sessional instructors are paid a pittance because they're supposed to have other jobs, including grad students.
But I just started as an L5 (which is the same pay band as a starting assistant professor) where I am - I'll slide over to assistant professor when I am actually granted the PhD, and that's a starting salary of 82k, 6 weeks vacation and a pension and benefits plan at a university you've never heard of with at total of 4 full time CS faculty equivalent. Admittedly, I have undergraduate students from where I am finishing my doctorate who are going to microsoft and google for ~70-80k, but they don't get 6 weeks paid vacation and they work at companies you've heard of in cities you know exist.
According to my contract assuming I stick around for 30 years for retirement and bump up one step per year along the grid I'll retire at 157k/year (in today's money) used to calculate my pension, assuming I do no teaching overloading, no senate, deans office or chairmanship work. And I can consult on the side as much as I want, just not on university equipment, as long as all of my courses get taught acceptably and the total of 4 grad students a year (2 part time 2 full time typically) that the department has are supervised.
So thats for a bottom tier university, with virtually no research expectations and basically focused on undergraduate teaching, and I'm being paid the same way as every other prof in all the other faculty. Big places - the nearest big well regarded school to us is University of Toronto, and they pay better, and not to much farther along is waterloo, who are more or less the same pay band as we are.
That's not great certainly - I know a few people from my doctoral programme who are starting around 130-140 in the valley, and about 90-100 in places with sensible housing prices. You can certainly clear 250, 300 if you consult, and I can do that, but having a professorship with a pension plan is a good place to be.