Passion-based industries don't ever follow proper "market dynamics", video game programmers are paid less because there's always someone else who will take the job at a lesser rate because they are passionate about it. You try to pay less for a CRM developer and they will just find another gig while you won't find anyone as qualified because that job doesn't have a motivation outside of the monetary transaction for the labour.
Market dynamics is just a model, as with any model it doesn't fit reality perfectly, it breaks down at the edges.
It can be argued that it is a market dynamic, and (if you were to somehow control for everything else) the difference between the pay of an game programming job and an average white-collar boring office programming job is the market's value of that passion.
That comparison may coldly boil down something people feel very deeply about, but I'd also argue the market is already doing that.
Is that the market really breaking down at the edges, or fitting perfectly?
I your examples of the video game programmers being paid less, it is because their compensation is in two parts: the money and the pleasure, astisfaction of passion, & the prestige of working on video games. In contrast, working on a CRM project has no other pleasures nor prestige, so those companies must may more dollars.
Seems the difference in [pleasure, passion, & prestige] could even be quantifiable by measuring the paycheck differences?
> Passion-based industries don't ever follow proper "market dynamics", video game programmers are paid less because there's always someone else who will take the job at a lesser rate because they are passionate about it.
Hammer hits nail on head, bulls eye. I've been a graphics programmer for 45 years, from research in the early 80's, through 3D video games, and years of Academy Award VFX studio work. It is the passion: making the media that captivates imaginations, and an ever visible stream of new applicants whose work looks really appealing - so you better shine or you'll be replaced.
Market dynamics is just a model, as with any model it doesn't fit reality perfectly, it breaks down at the edges.