So, we recently earned a new contract at my workplace and it got me thinking about how pay scales work in education with the steps and the percentage increases and all sorts of stuff.
So, let’s see what we can do with this one.
Let’s suppose that you sign a contract in which you are entering the work on step zero (education-speak for “entry level”).
The pay scale starts at $30,000 and each step increases $2000. Each year you work, you go up one step.
However, also written into the contract is a 1% raise each year that you work. So, the whole pay scale will increase 1% at each step each year.
How many years will it take for an entry-level teacher to begin a year earning a salary of $50,000?