Why do CEO's of large companies make lots of money? Pay is usually a direct relationship to responsibility and contribution. The more responsibility you have and the more you can make (or lose) for the company, the more your compensation.
For the comment earlier on about young grads being useless, I just fired a fresh grad engineer. He was full of arrogance and entitlement. We had a huge customer issue and he was the only one who copped an attitude because he had to work some extra hours. He was careless and made stupid mistakes. Never apologized or admitted he was wrong. I replaced him with a 47 year old guy who was laid off and is grateful to have a job.