What teachers earn all over the world

If you are a teacher in Luxembourg, you are in luck.

Using data from recent report OECD, The World Economic Forum gathered diagram, showing the 10 countries with the highest salary of teachers with 10 years of experience who work in public institutions in junior high school classes.

Luxembourg is number 1 on the list. There, teachers of the above-mentioned qualification can earn a salary of $ 99 - if they are just shy of six figures.

The second place is in Germany, where teachers earn approximately $65.  At the same time, the United States came in sixth place with $53.

It is noteworthy that seven of the 10 countries on the list are located in Europe. The other three are the USA, Australia and Canada.

(World Economic Forum)

Interestingly, the working on documents Marcus Nagler, Mark Paiopiunyk, and Martin R. West found that the quality of teaching goes up during recessions in the U.S..

The key factor here is that during a recession, a teacher's salary is more attractive relative to the lower (expected) income in other professions. Thus, people who might not otherwise enter teaching end up becoming teachers because they expect to earn more in this job than in others.

Taking these data into account, the authors noted that: "intrinsic motivation seems to have second-order importance relative to the effects of increasing teacher pay in choosing to hire more effective teachers."

And, this suggests that if teachers are paid more than other professions, perhaps the overall quality of teachers could be improved, as more capable people would choose to teach.

Source: Yahoo Finance