Show 130 - Are teachers underpaid?
In this episode, I discuss teachers' total compensation with Dr. Suzanne Zentner and why teacher pay is actually not as bad as you think!
9/16/20261 min read
It is a common thing to talk about being underpaid as a teacher. And while the hard numbers of take home pay show that, and the work we put in definitely supports that, that doesn’t always mean we aren’t being compensated well. In fact, Dr. Suzanne Zenter, long time teacher and administrator, is on a mission to show teachers that your total compensation is surprisingly good, even when compared to getting a corporate job. Let’s take a look!
Show Notes
The Teacher's Roadmap to Financial Confidence — a free five-question worksheet for teachers who want greater financial confidence
A Teacher's Net Worth Website
Recommended Books (Amazon Affiliate Links)
A Teacher's Net Worth Book
Key Ideas
Why teachers should look beyond their salary when evaluating compensation
How a teacher's pension can be an incredibly valuable financial asset
The difference between defined-benefit pensions and defined-contribution plans
Why teachers need to understand their total compensation
How budgeting can help you determine whether you're financially on track
Why tracking your investments and debt payoff can help you see your progress
How teachers can combine pensions, investments, HSAs, IRAs, side income, and other "buckets"
Why understanding your benefits can give you more choices in life
How better financial knowledge can help teachers stay in the classroom
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
There are a lot of forms of compensation we too often ignore or are ignorant of. For example, my HR department has free legal counsel on certain items, free finance advice (not the kind that comes with a bad 403b!), and a list of discounts I qualify for to name a few. It does take more forethought, but there are other forms of compensation out there if we’re willing to pay attention to them!