I was just watching This Week's show on education. Michelle Rhee, the DC superintendent, was touting her merit pay program, which she claims will nearly double the salaries of her best teachers.
Huh. Are we thinking about that here in NJ?
Well, if we had won the Race To The Top funds, $63.5 million would have been set aside for merit pay. That's over four years. There are roughly 140,000 teachers in NJ, making an average of about $65K a year.
Let's say merit pay would go to the top 5% of teachers: ($63.5 mil/4 years) / (140,000 x 5%) = $2,268.
That's a merit pay raise on average of about 3.5%. Oh, but teachers are now paying 1.5% of their salaries into their health insurance anyway.