Sort of. Depends on what you mean "low". I know salaries in that field can be skewed by large salaries from tech companies, but tenured professors at UB tend to make at least $100k, which is a very good salary in areas such as western NY. "Superstars" can make around $250k.
As a side note, since UB is a state school, salaries are public information[0]. He was making over $100k, even before tenure.
Every public employee in Texas must have its salary public, so you can see those nice 5 million dollars a year salary for football coach, president etc.[1][2], but you can also look at the Computer Science professors [3][4]. It ranges from a $154k to $250k, those salaries don't look too skewed compared to tech companies, especially considering the cost of life in those city (median housing price 3 to 6x cheaper than SF)
A $250k salary in Austin is supposedly equivalent to a $450k salary in San Francisco[5].
> those salaries don't look too skewed compared to tech companies
First, I think UT is a bit of an outlier: they are one of the top ranked departments in the country. Second: faculty members making $150k typically don't step into jobs in industry at $150k, they typically double or triple their salary.
Generally, salaries in academia are much lower than what the academic could be making in industry. However, to make that in industry they'd have to compromise in a lot of ways: having a job in academia means you're trading your opportunity cost to not have a boss, work on what you want, mentor students, set your own hours, etc...
Anecdotally (from my experience in academia) salaries for profs at average departments ranges from low 100s to high 100s, unless you move into more management-style roles (e.g., department chair). Naturally, this is higher for top places.
As a side note, since UB is a state school, salaries are public information[0]. He was making over $100k, even before tenure.
[0] http://seethroughny.net