Monday, February 21, 2011
'Wage' Analysis Rather Uninteresting
When I hear people quote data on wages, I don't really care about the trend because without non-wage compensation such data are so misleading as to be meaningless. Case in point, the Milwaukee teachers and administrators. The salaries average $56,500 and benefits are $43,505. They get ten weeks off in the summer, 1 week at Christmas, 1 week for mid-winter break, 1 week for spring break, and 11 holidays.
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3 comments:
Benefits are a way of disguising and/or defering pay (sort of like stock options).
(52 weeks/year*5 days/week)-(13 weeks *5 days/week)-11days = 184 days
184 days / 365 days =~ 50%
$56,600 + $43,505 = $100,105 for working every other day.
http://voices.washingtonpost.com/answer-sheet/teachers/are-you-sick-of-highly-paid-te.html?hpid=sec-education
Money quote:
"The average teacher’s salary (nationwide) is $50,000. $50,000/180 days
= $277.77/per day/30 students=$9.25/6.5 hours = $1.42 per hour per student--a very inexpensive baby-sitter and they even EDUCATE your kids!) WHAT A DEAL!!!!"
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