America’s Teachers

April 12, 2018

America’s teachers have notoriously been underpaid relative to their peer group. The excuses include, (a) Flexibility; (b) Summers off; (c) a profession dominated by women (and we all know that women earn about 80% of what men earn for comparable experience in similar jobs).

If I were a young person approaching college graduation, I might look at starting salary, and projections for advancement over the course of my career.

If I did that, teaching would not likely be on my list of job choices.

According to a study published by US News and World Report looking at the best jobs for 2018 college graduates, there are dozens of opportunities which absolutely blow away starting salaries for teachers, which seem to be in the $38k range.

One random example is an entry level Financial Analyst in the area of investment banking, private banking and the securities industry. The highest paid in the financial analyst profession work in the metropolitan areas of San Francisco, New York City, and San Luis Obispo, California. The Stamford /Bridgeport, CT area also pays well, as does the city of Salem, Oregon.

San Francisco      $141,840
New York City     $133,130
San Luis Obispo, CA  $120,750
Bridgeport (Stamford), CT   $120,520
Salem, Oregon            $120,150

These are median starting salaries for newly minted graduates.  What’s most egregious about this?

On a really good day, financial analysts provide zero economic value-added to our overall economy and society; on a bad day, they can cause catastrophic damage. Financial analysts produce no tangible outputs; they endeavor to discover and exploit financial opportunities to benefit their firm and its clients at the expense of other individuals.

Teachers bring value every day, yet they are generally under-respected and certainly, under-compensated. Teachers are the mechanism by which we build future intellectual capital to benefit future generations in and across the U.S.

Some may argue that this example attempts to pit Capitalism against Socialism:  Nice try on that one!

Pure capitalism relies on the premise that private capital, invested strategically, adds value to the overall economy and society, while providing a fair and reasonable profit to the capitalist(s).

Pure socialism requires a government controlled population of workers to both plan and operate the system; true socialism requires government control of all economic as well as political and public affairs.

By levying fair and reasonable income taxes on excess or suspicious profits, a nation is able to re-invest those taxes into strategic and forward-focused programs and initiatives, such things as: bridges; tunnels; airports; rail rapid transit; healthcare research and innovations; and public education – including teacher quality and teacher compensation.

Teachers need to re-focus their compensation and resource allocation argument toward pure economics.

It strikes me that the message needs to be:  “High quality, well-compensated teachers who are provided with appropriate and needed classroom resources help to shape and create the next generation of high-performance, highly motivated and productive citizens our nation will need to ensure future economic and political success.
There is no substitute for a ready and reliable supply of intellectual capital waiting in the wings to take charge in the coming decades.”

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