What Do Teachers Make?

In my early teens, I befriended a Cy Young Award-winning pitcher from the Dodgers who eschewed the celebrity culture of autograph signing. He would often advise young fans to seek autographs from their teachers instead, arguing that educators play a more pivotal role in their lives than sports figures. He wasn’t very popular because of that stance, but his perspective was profoundly insightful.

The question arises: who holds greater significance in our society, a teacher who instructs first-graders in reading or a social media influencer? Educators, especially those teaching fundamental skills like reading, contribute extensively to society beyond the immediate impact on each student. They provide numerous positive externalities that enhance our communal life. The value of a well-educated population is a public good, an essential element for the foundation of a functional society.

The Economic Policy Institute, a left-leaning think tank, calls this difference the “teacher pay penalty.” EPI calculated that, in 2022, teachers earned only 74 cents on the dollar compared with comparably educated professionals. The right-leaning Hoover Institution reached a similar conclusion in its 2020 report on educator compensation, showing that, even adjusting for factors such as talent and experience, “teachers are paid 22 percent less than they would be if they were in jobs in the U.S. economy outside of teaching.” – Washington Post