How common is it for team members to make more money than the team lead?

I’ve been asked to be the “team lead” on a series of large and complex SharePoint projects. One of the team members, who will be reporting directly to me, has a significantly higher salary. When I mentioned this discrepancy to my manager, I was told that it wasn’t uncommon in IT for this to be the case. Any other project manager/team leads in the same situation? Is this actually common?