I think that’s a fair assessment. Health insurance and maybe some type of pastoral pension/retirement plan could also help with a lower salary. Not to mention, there are still plenty of churches (often smaller and rural) that provide a church parsonage for the family.
On a side note, I know from personal experience that many pastors often are rarely paying for plumbers, electricians, car mechanics, etc. And when they do, it’s often a very discounted rate. I know this because my dad was the head deacon for many years and our pastor rarely had to thumb through the yellow pages for anything. Nearly all needs were voluntarily covered—from car repairs to drywall to a roof repair. Most churches had people with a variety of skills who were happy to help for free or just for the cost of parts/supplies. That’s huge savings over time that the rest of us working stiffs don’t get. I’ll add another pastoral perk I’m aware of: members who volunteer for the pastor’s family to take their mountain cabin for a week in the summer or their beachside condo in Florida for a week in the winter. Again, the rest of us are coughing up thousands of dollars for such arrangements.