Being Upfront about Teacher pay

Michael Rice:

There has been much gnashing of teeth and consternation going on about teacher pay and a 3% pay cut teachers may be forced to swallow. What gets to me more than anything else is the vile comments that get posted afterward when an article is posted on teacher pay in the local newspapers. Given the comments, one would think that teachers were getting rich and not doing much to earn the vast sums of money they make. I have to say I look at that with bemusement. I guess it is time to put my cards on the table.

For regular readers of the SSS blog, you already know my story. However, many of you don't. I switched careers in my mid 40's to become a teacher. I am honored to teach math at Rainier Beach HS. I am in my 6th year. I love my job and I love teaching math to students. I think I have a great job. However, here are the facts of my situation.

I hold an undergrad in Accounting and a Masters in Finance. Before I decided to become a teacher, I worked for a bank in investment accounting. In 2003 (my last full year there), I made $75,000 (that included my bonus), had a defined benefit pension plan that my employer fully funded that would make it possible to retire comfortably after 25 years of service with basically with what I would be making in my last year of working, a 401k that the employer matched dollar for dollar up to 4% of my salary. On top of that, my health care was fully paid for and my wife was on the plan at no charge to me also. The plan was a top notch Blue Cross plan with no co-pays and a very, very large network of doctors, dentists, vision and mental health providers available to us. I also had 4 weeks vacation and every holiday off. I also was given a yearly bus pass, so I did not have to drive downtown.

Posted by Jim Zellmer at May 5, 2011 2:03 AM
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