Re:Life as a public school teacher in the San Francisco Bay ...
by gpapilion on Saturday June 19, 2021 @09:35PM
(#27566240)
There are several subtleties when comparing teacher’s pay. First it’s 10 months not twelve so you need to adjust for that.
Second the pay also usually includes retirement benefits that can pay you 100% off your salary after 30 years. This is hard to compare to private industry since 401ks have replaced pensions. This is probably worth 2-5m when mature, and is accounted for in their pay. I think this is the biggest issue, since private employers pay higher expecting you to invest in your retirement.
Benefits are also usually good with small if any employee contribution. Probably worth a few hundred dollars a month.
It’s almost impossible to lose your job teaching. It has a factor of security that does not exist in private industry.
Pay raises are automatic. Primarily it’s based on years of service and level of education.
I’ve run the numbers previously and it starts seeming fairer, but due to the retirement impact it makes buying a home in the Bay Area almost impossible.
Re:Life as a public school teacher in the San Francisco Bay ...
by tptacek on Saturday June 19, 2021 @11:00PM
(#27566741)
The 10 month thing gets brought up in these discussions, but I'm looking at annual comp numbers, so the fact that it's 10 months makes the deal more attractive, not less.
Second the pay also usually includes retirement benefits that can pay you 100% off your salary after 30 years. This is hard to compare to private industry since 401ks have replaced pensions. This is probably worth 2-5m when mature, and is accounted for in their pay. I think this is the biggest issue, since private employers pay higher expecting you to invest in your retirement.
Benefits are also usually good with small if any employee contribution. Probably worth a few hundred dollars a month.
It’s almost impossible to lose your job teaching. It has a factor of security that does not exist in private industry.
Pay raises are automatic. Primarily it’s based on years of service and level of education.
I’ve run the numbers previously and it starts seeming fairer, but due to the retirement impact it makes buying a home in the Bay Area almost impossible.