Does IT really pay well

Hello, and thankyou for opening my post. I seem to hear from a lot of people who seem to make a lot of money from IT industry. Last few days talked to some of my school mates, who were below average in school, could not clear IIT JEE .Studied in tier 3 colleges entered into 15000 rupees job and now after 4 yoe they brag about their salaries as 14 lpa just by switching companies:/. This makes me feel where did I go wrong(I am a teacher). Maybe I am in the wrong field where 1lpm salary is quite far away. But I know it's not just me, I have read in some places how IT people suffer in this industries, recent layoffs from service based industries etc. So just want to know from you guys, is it really that everybody in this field after around 4 yoe make 1lpm amount or is it just a myth and people are struggling in IT also? Thankyou for reading till the end.❤️