Support for teachers improves substantially, with teacher starting salaries increasing to around $100,000 and end-of-career salaries increasing to about $140,000. To help pay for the additional salary costs, new teachers receive a 401(k) match rather than a pension. Teacher salary increases cost approximately $330 million per year after accounting for the change from a pension to a 401(k) match. These increased salaries make teaching much more attractive than other career options for someone with a bachelor's degree. Our best and brightest young people are attracted into the teaching profession, and few leave the profession. There is high competition for admission to teacher training programs and for teaching jobs. Each classroom has an effective and qualified teacher. Collaboration among K-12 education, higher education, technical college, and business is excellent, ensuring we meet workforce and educational needs in highly effective ways.
As a result, educational outcomes improve very significantly. The percent of those obtaining post-secondary degrees and certificates increases substantially. The increase in degrees helps attract more jobs in the life science, information technology, and hospitality & tourism industries, which pay higher wages. These higher wages benefit the entire economy, even for those who do not work in those industries, as the additional money ripples through the economy. Tax revenue per capita increases substantially.
