Wages are set by the minimum amount it would take to replace you with a different sufficiently qualified worker. That's it. It has nothing to do with any other

Wages are set by the minimum amount it would take to replace you with a different sufficiently qualified worker. That's it. It has nothing to do with any other abstraction. If someone else can do the work for less (including the cost of finding and hiring that person) then you're going to get paid less.