Varies widely by state, but teaching is no longer poverty row. Starting salaries for certified teachers run from upper-30's to low-50's. New MDs in their first year of residency only earn in the 40's to low-50's! Plus teachers only work 9-10 months a year, so they have numerous ways to earn additional money, starting with summer school, coaching, tutoring. Advisors to student organizations may earn more, too. For new grads, teaching does not pay badly at all, and there are a lot of benefits in addition to that salary being for only 9-10 months work/year, instead of 50-51 weeks of work out of 52.
Elementary Ed does not pay as well as high school subjects, especially math & science - that's where the need & money lie. Elementary Ed is the lowest paid of teachers, and the most glutted end of the market, therefore the toughest for finding a job. Plenty of competition. With a bachelor's in sciences or math, and M.Ed. you'd earn quite a bit more.