American teachers are underpaid, believes Rachel Premack of Business Insider. Since 1999 their pay dropped by 15% and 10.4% in Colorado and Arizona, respectively. The latter of the two saw funding per student fall by 37% between 2008 and 2015. The Economic Policy Institute estimates teachers have 23% lower salaries than the average college graduate. Especially when compared to other rich countries, American teachers are paid quite little. Their colleagues in Luxembourg, Switzerland and South Korea can earn up to twice as much. This low pay risks good teachers leaving their jobs for better-paying ones.
The assertion that American teachers are underpaid is wrong, hold Andrew G. Biggs Jason Richwine of City Journal. Their salaries are comparable to the level of skill that their work requires. There is also much more competition in the teaching sector than in STEM, for example. Teachers receive lush retirement benefits that are highly rare in other industries. They also get retiree health coverage, which isn’t given in the private sector. Supply and demand is crucial. As there are many graduates in teaching-related topics, schools have a large pool of workers to choose from. This naturally lowers their salaries. Teachers aren’t underpaid.