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Thinking Like An Economist?

Teaching I Perceive:

Less stress, more leisure time, more security, more challenge, less political structure, and less supervision

That’s the way it used to be. Now I’m not so sure.

With teaching, I perceive less stress, more leisure time with my family, more employment security, more challenge (what could be more challenging than teaching economics and not have everyone falling asleep?), less political structure, and less supervision or more freedom. It is basically the closest thing to working for yourself with out the risks of being in business for yourself. And, I simply enjoy teaching. It is a blast! So, I perceive all of the above items to be at least worth $10,000 to me. I consider myself to be a very fortunate individual to have the kind of job that I do. I am very, very fortunate indeed, but I had to work pretty hard to get here!

Times change and the job changes like everything else. Teaching loads have been increasing over the years. Stress is increasing as all university employees are being asked to do more with less resources. As the years on the job have increased, leisure time has decreased during the academic year. When the state budget is in deficit and cuts must be made, one always worries a little. Supervision has increased over the years as well with the new peer review process that faculty must under go. If the salary differential between teaching and the private sector continues to be large, and the “emotional overcoat” differences continue to shrink, what may happen?

What if a private sector opportunity came along at $55,000 per year. Then all those “emotional” factors will have to be worth $20,000 for me to stay.

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