Actually the reality should be the opposite - we should 10x their salary. Our best and brightest are going into STEM or Wall Street where at 25 you can make half a million a year. The only people willing to go to a super high cost of living city making $150k per year are usually those who are making more money in their politician job than they would in on their own skills (see AOC, Marjorie Taylor Greene, etc).
If the pay was ultra competitive, we'd have far more credentialed people running instead of people with no accomplishments who only know how to pander.
Who do you want making decisions and laws governing your life? Someone intelligent enough to understand software systems architecture at scale? Someone who can understand crazy math involved in quantitative market analysis? Or someone whose highest paid skill was serving lemon drops for college kids?
We all believe in how competition drives markets and the best are rewarded for their abilities, but we want to pay literally the most important job in our society as little as possible? It doesn't make sense.
Yes, the original intent for politicians was to have a career, take a little time off to go to Washington, and go back to your career. But we need to be honest with ourselves and appreciate that we live in a different time.