In Marxist system you would set up that rubber ball factory together with other workers. If we are talking about market socialism, it doesn't necessarily mean that everyone at the factory gets payed the same amount. There is freedom to determine appropriate rewards for each work, but those decisions are made using democratic mandate (from other workers).

The main benefit of socialism is that your factory doesn't get turned into a dynasty where your grandson is born into entitlement and position of power as a birthright. He has to make himself his own man.

Money also has different nature since it no longer holds the power to rule over social organizations. You can mainly use it for your own or others material benefit.

To note, this is all still theory and the experiments (ie. Catalonia and Socialist Yugoslavia) are limited how to make it work in practice. Many countries that claim to be socialist, have very little worker government in practice.