"Pay Teachers More" (and bankers less)

Nicholas D. Kristof (NY Times op-ed):

Starting teacher pay, which now averages $39,000, would have to rise to $65,000 to fill most new teaching positions in high-needs schools with graduates from the top third of their classes, the McKinsey study found. That would be a bargain.

Indeed, it makes sense to cut corners elsewhere to boost teacher salaries. Research suggests that students would benefit from a tradeoff of better teachers but worse teacher-student ratios. Thus there are growing calls for a Japanese model of larger classes, but with outstanding, respected, well-paid teachers.

Teaching is unusual among the professions in that it pays poorly but has strong union protections and lockstep wage increases. It’s a factory model of compensation, and critics are right to fault it. But the bottom line is that we should pay teachers more, not less — and that politicians who falsely lambaste teachers as greedy are simply making it more difficult to attract the kind of above-average teachers our above-average children deserve. MORE...

Howie P.S.: The "bankers" in the headline is my own contribution to the argument.