With so much conversation about the student loan crisis and speculation about the necessity–or lack thereof–of bachelor’s degrees, it makes sense to be skeptical about pursuing graduate work. Unless you are an educator. Then, at some point in your career, you will most certainly find yourself signing up for more school. But how much of a gamble is graduate work?
Getting My Degree On
I am currently finishing up my fourth (and hopefully last!) graduate program. Over the past decade, I have taken classes off and on to the tune of two certifications, two Master’s degrees, and a whole lot of tuition receipts. While not every professor or textbook has been excellent, I can honestly say that the majority of this effort has helped me better myself as a teacher. In short, it was worth it.
The payout, though, is also financial. Looking at my district’s salary schedule for 2017-2018, a teacher who has 10 years of experience with only a Master’s degree will make $12,482 less than a teacher with that same decade of experience plus another 54 credit hours beyond that initial Master’s degree.
But wait. What about the ten-year teacher who believes the hype that grad classes aren’t worth it? Until that first Master’s degree is obtained, her salary stays frozen. And it’s a deep freeze. That teacher’s salary will be nearly $20,000 less, earning her the same paycheck as someone with five year’s less experience. Brrr.
Of course, this is just one district in one city in one state. My husband teaches fifteen minutes away, and his district calculates their salaries in an entirely different fashion. The only common denominator is the fact that both districts offer raises for graduate work. There is a cost-of-living increase built into both of our contracts (mine is quite, errrr, conservative at .8%), but the real way to build up not only your skill set as an educator but also your income is to hit the books. Again and again.
My Big Gamble
As I’m impatiently awaiting the opportunity to max out my salary schedule (and to stop ordering new textbooks every other month), I am also taking a gamble. When it comes to teaching and graduate work, timing is everything. Like the stock market, trying to time the teaching job market isn’t easy. In fact, I’m not sure it is universally possible. But I’m rolling the dice anyway.
When I first started teaching a decade ago, everyone and their brother (and their uncles who lost their jobs in the Great Recession) was going into the classroom. As a result, the market was absolutely saturated with candidates. There were over five hundred applicants for my first job. Mercifully, my boss did not tell me that until after the interview. Otherwise, I would have most certainly thrown up as I passed around my resume.
Since then, though, the teaching profession has taken beating after beating, leaving many cities and states with major teaching shortages amidst crippling financial crises. The first district I taught in did not weather the storm well. My current district is much more stable. Yet, they also see the writing on the wall. As a result, they have informally stopped interviewing candidates with graduate experience. Because when the state still owes you several million dollars for one school year, you tighten your budget anyway that you can.
When I got wind of this, I bristled. Not just because I know there are many benefits to professional learning experiences and graduate school, but because I also realize I have effectively priced myself out of many districts should I get canned. While I like to think I more than earn my keep each year doing what I love, I’m not dummy. At least not anymore. No, siree, my eyes were peeled wide open, thankyouverymuch.
So I rolled the dice. My bet is on winning big with at least an extra $12k each year every year over the course of my career. But if my numbers don’t come up, I realize I could very well be not just out of this job, but out of the profession entirely.
So Tell Me…What would you do in my (very stylish yet comfortable) teacher shoes? Does undergraduate or graduate work benefit your profession?
Steveark
I’m sorry but I’d leave the public sector for the business world. The pay and ponzi funded pension plan pale compared to what a talented person can earn in the for profit world. But, and it is certainly true in your case, if teaching is more than a career, if it is your life’s mission then I think you are making a good bet with the education. In my former very lucrative career as a chemical engineer anything past a BS actually hurt your career chances.
Penny
Yeah, pensions are definitely a whole different post. The profession as a whole is really curious. I’m fortunate to be in a district that can take good care of its employees, but you’re right about the business world. Education technology and/or consulting would be far more lucrative. But I’d miss the kids!
Oldster
I started out my professional career as a teacher. But I quickly came to the same place that you are now. I ended up going to law school and started down a completely different road. It was surprising how many educators were in my law school class. Teaching is the most rewarding thing I’ve ever done, but also the most under appreciated. One can only stand that for so long. My wife teaches high school now, but at a private school, and only because we are not dependent upon her income for survival. She loves the job, but we both wonder how anyone can live on the pay.
Mrs. Picky Pincher
Aghh, this is so tough. I’m now in a job where we work heavily consulting teachers, so I really feel for your struggles. My stepmom (HS teacher) was telling me about her absolutely absurd insurance costs and salary. It’s unfair what we do to teachers. As far as the degree–I mean, I think only you can make that call. I guess it comes down to how certain you are about the ROI on the degree. I usually shy away from master’s degrees since in many fields they don’t add value.
Vicki@MakeSmarterDecisions
I think most MS degree programs will benefit you to some extent (depending on the quality of the program, courses, instructors – an your effort And since they are required of all NYS teachers (or you lose certification after 5 years…) – there isn’t a choice. I think it’s awesome what you’ve done. Few people have the dedication to take on all of the programs and coursework that you have completed. I think your hard work will pay off – very soon and for a long time in the future!
Kyla
Have you thought of coming to Canada? Mass teacher shortage out west, pretty good pay, good pension and health etc. I have been teaching for 12 years now and have a M.Ed they don’t recognize higher than a masters here.
Kyla
Should also mention that Education is provincial and you can’t price yourself out of the market as the district is given additional funds for higher cost teachers 🙂
Bunnyfreak
I currently work in the statistics field where often new grad PHD are valued only MS with 10+ years work experience. I work in the finance private industry not in academia or research. This is dispute the fact that the work does not require the additional theoretical training of the higher degree but the real world work experience does bring value. In the past some responsible for hiring only want the best schools. I was lucky that my hiring manager didn’t care about such things but the mentality is still in the corporate culture.