Would you attend a doctorate program costing $50,000 (on top of $30,000 already spent for a graduate program), only to earn an additional $15,000/annually? Troy and Maryna Welker are a young, newly married couple, both teachers. He makes $45,500 as a special education teacher, and she works part-time, earning $11,975.
This couple is doing everything right, and if they make the changes the advisor suggested to them, I have no doubt that they’re off to a happy future. The thing that stood out to me in this was the fact that attending a doctorate program would only increase his earnings by $15,000. Over the life of his career, the planner estimates that it adds up to $670,000. And it’s not as though his earning power is that high now, it’s $45,500. MBAs typically graduate with $80,000+ job offers, so it’s surprising and disappointing that one of the most important professions has such a low pay grade. I admire his dedication to his profession and hope he has all the success he deserves.
That’s ashame that our society does not seem to value education much (in terms of what they pay teachers).
I remember when I was making the decision to go to engineering or teaching, my teachers would encourage engineering. At least until I pay off my loans, and then if I want to, I can take one year of teachers college and teach.
That is so sad – and they wonder why our education system is going down the toilet.