"Over half of K-12 teachers report that they are just "getting by" financially-with one in five reporting they find it difficult to live on their present income, according to a new study by Gallup and the Walton Family Foundation. That financial strain has forced many educators to do what's increasingly common across the workforce: pick up a side gig."
"Public K-12 teachers earn average salaries of $72,030, according to the National Education Association-more than the median annual wage of all workers of $49,000. But when adjusted for inflation, teachers make on average 5% less than 10 years ago, and 9% less than the peak in 2009-10."
"Some 94% of teachers spend money out of their own pocket for their students, according to the U.S. Department of Education -shelling out upwards of thousands of dollars on everything from pencils to food to winter jackets."
Despite earning average salaries of $72,030, over half of K-12 teachers report financial difficulty, with one in five struggling to live on their income. Teacher compensation has declined 5% over the past decade when adjusted for inflation and 9% since 2009-10. Approximately 45% carry student loan debt averaging $55,800. Teachers spend thousands annually from personal funds on classroom supplies and student needs. Financial pressure forces 62% to pursue additional work, with one-third taking unrelated second jobs like rideshare driving or food service. Gen Z views teaching as an AI-resistant career, creating renewed interest in the profession despite ongoing financial challenges.
Read at Fortune
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