Yeah, salary is something that I have heard is a major con of teaching - at least, the salary in comparison with the number of hours worked. Interestingly though, in some places, like DC or NYC, the entry-level salary for teachers is around 50k (so far as I can tell from looking up programs like NYC Teaching Fellows and DC Teaching Fellows). Of course cost of living in those places is absurdly high, but I know lot of people who took entry-level jobs in the same places for 30-35k - people who went into creative industries. Even my friends who decided to work for consulting companies or be business analysts for major credit card companies aren't making more than 60k-ish right out of college. It always seemed to me that a lack of respect for one's profession was the major con of teaching.
It's funny that you say that because I started typing "well-respected" in my pros before, but it's sort of complicated... it's like most average people respect teachers' profession - it's very culturally entrenched, like doctor or lawyer, but for whatever reason, that doesn't translate into good pay.