No, but pay isn't based on how hard the work is. It's based on the value provided, and/or on the influence the individual has; and somebody able to attract 1bn is much more influential than someone with just 1m under management.
As wealth changes hands over time, this expectation may change.
The startup world isn't encouraging of founders who take high salaries or who take money off the table..
Some of this exorbitant salaries could have been paid to extend the runaway of key startups and generate better returns.
Surely the Lp's should look at such high salaries as exorbitant..
[0] - Secret App that has since closed shop