Yes there are other ways of measuring teacher "value" too, but income changes are relevant to this discussion, since they tell us how much a teacher could theoretically ask for in "commission". The paper suggests that an average teacher vs a bottom 5% teacher makes a $250,000 lifetime difference in income (present value).
"The Long-Term Impacts of Teachers: Teacher Value-Added and Student Outcomes in Adulthood" http://www.nber.org/papers/w17699
Take a look. He does a neat job controlling for different factors, trying to tease causality out of correlation.