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This is partially off track. I graduated with an MA and became a teacher. I paid to teach my first year. Nobody paid me. And, whereas I’m starting with a $45,000 salary, once everything is deducted from it I net $2300/mo. which isn’t much in any respect. And I buy my very own supplies (paper, dry-erase markers, and many others.) so my real earnings are lower. And, I work 10 hours a day and on weekends, so in the event you factor that in I am not making a lot per hour at all.
The irony of this complete state of affairs is that the PhD. cohort tends to be far, far better at their chosen discipline than any highschool trainer. But the high school teacher enjoys higher pay, job security, and a saner work-life steadiness. This is completely backwards to any normal career. It would be like doctors earning much lower than nurses, or a enterprise analyst who does higher than the actual executives in the company.
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This paper is a contribution to an important line of labor. As economists, we often remind policymakers that their decisions needs to be based on goal, empirical research fairly than uninformed supposition. Yet when we are the decision makers, as we’re when we run our own educational programs, we regularly have little data-driven analysis on which to base on our judgments. This type of research ought to, over time, result in a greater instructional system.