Are Mayors Really Highly Paid?

I was just talking to a friend of mine who's a VC last week, who's thinking about running for mayor. He mentioned how he went to a conference with a bunch of local mayors and he noted how almost none of them were paid. And so it can be all this self-perpetuating cycle of poor management and then things get worse as less tell to people want to do the job. I don't think that someone who's willing to work for free necessarily means that they're going to be the best leader.