Making a Living II

I've been thinking a lot about money recently. Primarily this is because I've been going through the job hunting process. This is the third year in a row I've sent out applications in the hopes of finding a full-time college teaching job. Each time I apply, I think about the difference a full-time position will make to my financial life, and I hope and dream while trying to keep those dreams reasonably in check. This year, however, is different from the past two since I've actually made it beyond the paperwork stage to the interview portion of the process. I take this as a good sign, so I've been letting my daydreams wander a bit further.

And here's the thing: people talk about how little teachers get paid and how worthless a master's degree is. And there's something to be said for those positions. Considering the education required to teach at the college level (comparable to lawyers and doctors), it is not necessarily the best gig in the world. Adjuncts in particular have a tough situation. Depending on the school, they might make two or three thousand dollars per class or only a bit above minimum wage, which is hardly what one would expect for a profession requiring an advanced degree. However, it is still possible to make a fairly nice living as a teacher.

If I land one of the full time positions I'm up for, my income will increase significantly over what I made last year working two part time jobs (a difference of at least ten thousand dollars, plus benefits). In fact, if I get offered the best paying of the jobs, my new income could be close to double what I made last year. So I've been fantasizing about what it will be like to have that much more money coming in. Last year I made more than any year before, but considering I have debts to pay off from grad school, I'm still just getting by. But if I'm offered the best paying job I'm up for, then I will suddenly have enough money to start making considerably higher payments on my loans. In fact, I suspect that instead of taking about a decade to pay off my loans, I could be debt free in four or five years. At that point, I would be making far more money than I would need to just get by. I could then start thinking about larger purchases like a new car or a down payment on a house or laser eye surgery to correct my poor vision.

In the past few years I haven't fantasized much about big expensive things like those. I figured I'd probably live in a small apartment throughout my whole adult life and basically get by comfortably enough but always have to be careful with my spending and always wish I had a little bit more. I figured that without a family to take care of, I'll always do fine compared to those around me trying to support kids, but, still, I'll never be wealthy. But the truth is that even if I don't land a full time job this year, I probably will land one next year or the year after, and by the time I hit forty, I will likely be making quite a nice living. I won't be able to buy a mansion or anything, but I will be relatively wealthy in the sense that I could afford things like nice vacations or a decent car or retirement savings.

Furthermore, teaching has decent job security. When I moved to Pennsylvania a couple years ago, I moved here because I wanted a cheap place to live, not because I actually had a job here. Within a few days of arrival, however, I was offered two classes at the local community college. If I did not have my degrees, I might have spent weeks or months looking for some random office job or a retail position paying minimum wage, but instead I was hired right away. Even though the job isn't secure in the sense of having a long term contract (I don't know semester to semester how many classes I'll be offered or whether those classes will get enough students to go or might get canceled a week before they begin), it's still secure in the sense that there will always be a need for English teachers. And, of course, once I'm a full timer, I'll have one year contract with a high likelihood of having the contract renewed year to year or landing tenure down the road.

Again, compared with doctors and lawyers, teachers are not incredibly well paid, but compared with a lot of other jobs, they are. In addition to teaching, I worked at a bookstore until it closed a few months ago. I'm fairly certain that even as a part-time teacher, I made more than the manager of that store. I know a few people who work office jobs that don't require a college degree, and they make enough money to get by on those jobs, but not as much as I'll probably make teaching college. The truth is that teaching makes a lot of sense as a career not only because it's rewarding and challenging and keeps one thinking about the basics of writing on a regular basis and all those other reasons, but it also makes sense from a purely financial standpoint. I'm thirty-one years old, and the most I've ever made in a single calendar year is about $27,000 (which is still about twelve thousand more than one could earn making minimum wage, assuming one could ever actually get a full-time minimum wage job). But I expect I will make more than that this year and more again next year, and there's a pretty good chance that by the time I retire, I'll make six figures (that's counting on raises and promotions and the ever decreasing value of the dollar). But without my degrees, I would probably be doing the same kind of random office job I had when I finished college, which paid eleven dollars an hour about a decade ago and I'm guessing wouldn't pay much more than that today.