The facts based on the collective bargaining
agreement with the Marion Educational Association [Marion County FL]
* If someone works as a teacher for 20 years they earn an average of $35,643/year. The contract calls for 196 work days consisting of 7.25 hours a day for which they are also provided fringe benefits at 33% of salary. The combined value of the package irks out to $52,134./yr. or $36.68 /Hr. At retirement if they have accrued their sick and personal leave they receive an additional $53,000. which equates to $38.35/hr.
This does not take into account:
1. The value of the Professional Services Contract (tenure) which, for all practical purposes, guarantees against loss of job regardless of competence. This certainly has significant value. [ Tenure (a liberal government financial policy) has at least the equivalent value of an emergency employment fund (a conservative personal financial plan) which is typically taken at 6 months of salary; in this case equal to $25,000. If a teacher without tenure found it necessary to use such a fund twice in 20 years, it would equal 1 years full salary of $52,134. The hourly value of this is found by dividing by 20 years x 196 days/yr x 7.25 hrs/day equals $1.83 per hour.
2. The liberal retirement pension. This value has been somewhat diminished with free market 401K plans now available. In the Old days before 401K plans, this retirement plan could easily be estimated at $100,000 because the employee's vested ownership increases yearly according to a tabulated schedule based on years of service.
3. The fact that most employees in the private sector work (at least) 250 days a year. If teachers worked 250 days a year, and if their salary was adjusted accordingly, their average yearly compensation would be $68,051. [ !! 250/196 x $52,134 = $66,497 ]
4. Many people make comparisons of FL teacher salary with northern states and find that FL teachers average 6-8% less than northern states. What is never analyzed is that FL does not have a state income tax and northern states typically have a 5-10% income tax. A reasonable person would easily see that FL teachers have a very competitive position if not a better position!
Analysis: How to Calculate Georgia State Income Tax , (2008)
One item not listed here is "Teacher Satisifaction". This article is short but says alot. Teacher satisfaction: Public vs. private education .
| Italic magenta edits by ed.