With 21 years experience in the classroom, this is a subject I know well.
First, you don't sound like a typical teacher. 50% of the job is being the right person -- that doesn't mean being a good person or a bad person; rather, it means having the right personality for the job. Part of that is that no other job really appeals to us -- we have known we were teachers since we ourselves were in elementary school. We aren't particularly curious about what other jobs are out there. This job isn't just what we do; it's who we are. People who don't know me have said to me, "You're a teacher, aren't you?" That makes me think you might be destined to go.
Second, I was interested to see the term "golden handcuffs" kicked around. It's not a term I'd heard before, but I know that I'm wearing a pair. I am well on my way to a teacher's biggest benefit, the pension, and they have me handcuffed to the classroom because I'm "too far in" to turn back now. I have tenure, I get a longivity bonus once a year, and I have over a year of sick days accumulated (which won't transfer). I have a prime classroom, and I am allowed to teach exactly what classes I want every year. And NONE of this transfers to another state; some of it doesn't transfer to another county. They've got me. So, my question to you is, How far are you in? This matters for a couple reasons: 1) If you have only a few years in, it's not so hard to walk away. You aren't giving up so many years of experience, and you have plenty of time to build a career elsewhere. On the other hand, I wouldn't do that at the point where I am now. I'm too far in to give up what I've accumulated. 2) Things are changing drastically in the world of public education, and I don't think this job will still exist (in its present form) 20 years from now. I'll be gone by that point (sounds like I'm planning on dying, but you know I mean retiring), but if you're a new teacher now, I'd recommend you get out now. Things aren't going to improve financially for teachers, and they're piling on more and more and more duties. 3) How many years do you need to work in your state to be vested in the pension plan? Let's say it takes five years, and you've taught for four years. I'd say you should go back at least one more year because that one year would draw you a smaaaalllll pension when you're old enough. On the other hand, if you decide that leaving is in your best interest, and you're in a 10-year vestment state, I'd recommend not staying all those years. The pension is really only worthwhile if you get a "full pension", meaning 30 years in my state.
In my state our salary was frozen for four years, yet our insurance went up every year. Last year we were given a whopping 1.2% increase, and our insurance went up something like 6% in one year. At the same time, we lost teachers, which meant our classroom size increased. And we went to a whole new curriculum, and we were given a new teacher evaluation tool that's overly complicated and makes us look bad. We're being kicked in the teeth on a regular basis from several sides . . . and, even ignoring the increases in cost of living, we're doing it for literally fewer dollars than we were five years ago. The worst thing is that I don't see this changing. In fact, I see it getting worse. I genuinely think we'll reach the point that the pension disappears -- for new people; I don't think they can take away a benefit for which I've worked for two decades.
In my state a Masters' Degree adds 10% to your salary . . . BUT there's a proposal in front of the state legislature right now to STOP that 10%. They're going to "grandfather in" those teachers who already have an advanced degree . . . but IF the proposal passes, no new teachers will get Masters' pay.
My personal prediction: If they do away with Masters' pay, National Board (which is a 12% bonus in my state) will be next on their agenda. On the subject of National Board, if you go that direction, do realize that it's not a "forever thing" like a Masters' degree. Rather, National Board is a 10-year certificate. Then you have to go through a modified-but-still-difficult process to renew. If I were doing this, I'd pay attention to how many years I have left 'til retirement. I would not, for example, complete National Board when I had 12 years to go 'til retirement. If I were that close, I'd wait 'til I had 10 years to go so that I wouldn't have to renew the certificate.
Going into administration is one of the time-honored ways teachers get themselves a big pay-jump, but do realize that it's a whole different job -- and not one that appeals to me. If you're an administrator in high school, you put in hours and hours and hours supervising evening events: An administrator must attend each and every sports event, several of them attend each dance and social event. It's a lot of hours.
How can teachers earn extra money with little side jobs instead of the big choices discussed above? I see plenty of options around my area:
- Summer school. You mentioned it, but I don't recommend it. I did it once, and it wasn't a good experience for me. Think it through: I had a dozen 9th graders who had ALL just failed, every last one of them because they'd been lazy-butts 'cause 9th grade English isn't that hard to pass . . . and three weeks later they were sitting in summer school six hours a day repeating the material they hate most. Do you think they were a fun, easy-going group? The really hard thing was that I finished summer school on Friday and had to move straight into the fall semester on Monday. I didn't get a break. Yes, someone on this thread has already raised the public's favorite hue and cry: You get so much time off! No one else gets a summer! Yes, yes, but -- as someone else already said -- if you're not a teacher, you don't "get it". I had another job briefly before I was a teacher, and the pace of other jobs isn't the same. You're not as emotionally involved in other jobs, you don't bring home the work in the same way. Again, if you're not a teacher, you won't "get it", but -- trust me on this one -- teaching summer school will sap every bit of energy you have. I have worked in OTHER summer jobs since that year I taught summer school, but I've taken care to do something completely different, and I have never again returned to the school year feeling that I hadn't had a break.
- Teaching classes on Virtual Public School. This is a growing concept. More and more of our students are interested in taking classes on the internet -- it makes more classes available to them, and it's flexible for them. I personally know two teachers who are teaching these classes, and my oldest child took a class this way. The teachers say it's a completely different method of teaching, and the first time you do it, IT IS WORK. After that, though, once you get the hang of it, they say it's not so bad -- except for the irresponsible students who never log on and don't do their work.
- Tutor. Get your name on the county office list, specify what you're willing to tutor (i.e., Middle or High School reading, writing, SAT prep in the field of English). Guidance counselors and teachers at all the schools in your county will direct parents to the county office, and when a parent calls up, they'll pass on your name. You can also look into private places in your community; for example, we have a place called Mathnasium that employs after-school teachers. Important: You cannot tutor a current student for money (during school, after school, EVER -- not while he or she is enrolled in your class). Tutoring your current students is covered under your current salary, and you never want to look like you're taking money for grades.
- Homebound work. Again, get your name on the county office's list. When a student is stuck at home -- say, he's had an operation and can't come to school for a month -- you're the liason between the school and the student. Depending upon what the system has allocated for him, you meet with him 1-2Xs a week, you bring work from his classroom teachers, help with difficult parts, supervise test taking.
- Administer the SAT. You have to go to training for this, and it's only something like six Saturdays a year, but it's easy money. I mean, you currently administer standardized tests as a part of your classroom curriculum, and it's not too taxing. I'm currently looking into this as a second-job thing . . . and I'm thinking it'd be an easy gig to continue into retirement.
- Another thing I'm considering for retirement is working as a private college-admissions counselor. I'm doing it for free right now with my seniors! This wouldn't be too difficult because so much is on the internet. It'd be helping seniors (and their parents) narrow down their choices, then fill out the paperwork. This isn't hard to do (but so many are overly nervous about their essays), but many people find it daunting and are willing to pay for help.
- Become a grader for AP testing or National Board testing. This requires a training and is pretty intensive work, but you get to go to nice places (paid) to do it. Two friends of mine who've done it have been sent to Daytona Beach and Nashville to "read". And their evenings have been their own. Oddly enough, to grade AP tests, you must have an AP certification . . . but you do not have to be National Board certified to grade national boards. Personally, I think that's wrong.
- Supervise detention after school. Yeah, it's a thankless job, but it pays $50/four hours. Probably more than four hours actual time because you can't leave 'til the last kid's picked up.
- Coach. Obviously, you must have the right attributes for the job, and you must be in a school that doesn't already have a coach with a 15-year winning history and no intention of leaving. You must have the ability to deal with a crapload of parental problems: Why didn't you start my kid? You know that other player isn't as good. Transportation issues. Missed practice issues. Medical issues. This isn't something to do for the money; rather, this is something to do because you love the sport and the interaction with the kids.
- Teach Driver's Ed. This requires a certification -- it's two separate certifications: You can be certified to teach the 30 hours of classroom instruction and/or certified to do the behind-the-wheel training. I know one man who did this while he was a teacher, and now that he's retired, he's doing it on a private basis. Most of his clients are the private school kids; they can't get driver's ed through their schools.
You need to look around and see what's available in your area. You might have options that would surprise me. Keep in mind, though, that there are two ways to have more money. You're focusing on ways to earn more, but spending less is an equally good way to boost your net worth. I can tell you a couple unique ways to use your status as a teacher to spend less:
- Take your teacher ID everywhere. A surprising number of restaurants and stores offer a small discount -- if you have your ID.
- Free labor on car maintenance. Our school teaches auto mechanics, and the instructor loves to have his entry-level students change the oil in teachers' cars or have his advanced students diagnose problems. We love the guy at our school, and he supervises all the work, so no concerns about quality. We talk to him personally to schedule it, and pay for the oil or any parts that're necessary. I've always given him a 12-pack of sodas or a small Chick-fillet gift card as a thank you.
- Free travel. If you supervise a group of students on an international trip, you travel free. I know three teachers who do this every single year. They use commercial travel groups aimmed at students, and the groups even collect the money for them.
Finally, and a bit off-subject, the teachers I know seem to be pretty good with money. In my department, everyone is rather frugal, and it's not unusual for lunchtime conversation to include details about a good sale on frozen food at such-and-such store, or a frugal vacation that someone enjoyed. However, more than half of us take advantage of at least some "extra work for extra pay" -- either through the school system or elsewhere in the community. About half of the younger teachers are dealing with student loans, and ALL of them have some sort of second job.
Finally again -- yes, I'm bad about that. I should stop typing "Finally" as if I'm really done, as I draw near enough to see the end of my teaching career, I think I've done okay financially. In part, this is because I married someone whose work life meshed well with mine. As a teacher, I have relatively short hours actually in the school building, a low paycheck, great security, and the promise of a pension. He, in contrast, works a traditional 9-5 schedule, makes about twice what I do, but is always worried about lay-offs. When the kids were small, he took care of getting them out of bed, feeding them breakfast and getting them to school. I picked them up after school, supervised homework and made dinner. Our retirement plan is that my pension will pay for our week-to-week needs (groceries, gas, electricity), and his greater savings will pay for larger, occasional expenses. Having different "strengths" in our work places has been a good thing for our family.
And one more thing. Being a teacher has been good for my kids. I've been closer to the system, so I've always been on top of what's going on with them. I've been able to pick their teachers, they've never had transportation problems staying after school for tutoring or extra-curricular activities. I had a better-than-average grasp of the college application and scholarship application process. I've known all of their friends. This is a non-financial benefit, but it has made a very real difference in my children's lives.
Good luck to you!