Accumulate student loan debt of $38,000 in the Mesa Public School District and you’ll be lucky to pay it off before you retire. For example, there is no salary difference between bachelor’s teachers and master’s teachers in the Dallas Independent School District, while in the Mesa Public School District, master’s educators earn just $1,000 more per year than their bachelor’s colleagues, regardless of their level of experience. On the low end of the scale, a master’s degree may result in little to no pay increase. In most educators’ eyes, that makes a master’s degree a good financial investment.īut averages tend to gloss over the fact that many school districts offer much lower and much higher financial incentives for teachers who pursue a master’s degree, either pre- or post-licensure. With an average student loan debt of $38,000 for teachers who have earned their master’s degree, this means it takes about eight years to “break even,” or pay off their debt and move into the black. This means that over the course of a teacher’s career, a master’s educator will make an average of nearly $160,000 more than a bachelor’s educator. On average, the NCTQ reports that teachers with a master’s degree earn, on average, $5,285 more annually than teachers with a bachelor’s degree as their highest degree. …with an average student debt load of $38,000 for teachers who have earned their master’s degree, will the increase in salary pay off in the long run? This means that in most school districts throughout the country, a master’s degree will give you a pay bump. While the majority of these districts (58%) used the “lane” and “step” type of salary schedule that’s built around higher levels of education and credits, about 33% paid out a flat stipend/bonus to teachers each year for their advanced degrees. Does a Master’s Degree End Up Paying for Itself with Salary Increases?Īnother 2019 National Council on Teacher Quality study of 124 large school districts throughout the country found that 92% of all districts paid their teachers more for holding an advanced degree. The remaining schools in the study use non-traditional salary schedules based largely on performance pay and some choose not to publish salary schedules, instead leaving it in the hands of the school board to determine annual raises. Over the course of their careers they would then move through incremental step increases according to experience. The study found that about 61% of all large school districts use standard pay scales for teachers that include “lanes” and “steps,” with teachers falling into a particular lane based on the degree they hold or other college credits they may have. While many teachers know that returning to school to earn their master’s degree will elevate their teaching style and ultimately make them a better educator, it must also make good, financial sense.Īccording to a 2019 analysis by the National Council on Teacher Quality that studied the 100 largest school districts in the nation and the largest district in each state, earning a graduate degree remains one of the primary ways that teachers earn higher salaries. In all states, a bachelor’s degree as part of a teacher preparatory program will qualify you for initial state certification/licensure as a teacher. A Closer Look at How a Master’s Degree Factors into Standard Pay Structures
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