Teachers get paid for experience and credentials, but not for specific skills. Patrick Walsh explains that outside of K-12 education, both math and verbal skills get rewarded…but math skills get rewarded more. Unsurprisingly, people with more math skills are drawn away from teaching into other professions.
How big is the pay gap? Walsh computes the effect on the difference between teacher versus nonteacher salaries for a one standard deviation (about 90 point) increase in SAT scores. Here’s a quick summary
|4 years post graduation||10 years post graduation|
You can see why teachers with good math skills are especially likely to be drawn into another career. And note that the incentive to bail increases as people move along in their careers.