# 1. I know a few teachers. I would be extremely surprised if they were in the top 10% of Canadian IQWithout being selective, how much should teachers be paid?
I think I have already established that an average Ontario teacher has an IQ score in the top 10% of the Canadian population. If that is true, I would expect their incoming to be in the top 10% of population as well. From the CBC, I found the following:
http://www.cbc.ca/news/interactives/canada-income/
So, based on 2009 income, the average Ontario teacher’s income falls around the 90%tile range. Just as their IQ scores would have predicted. Police officers, with IQ in the average range, also earn in the 90%tile range. That strikes me as being excessive.
Another poster posted the calculations of economist Linda Nazareth. In the Globe and Mail article, she compared Ontario teachers’ salary to that of the OECD average and came up with a 1.05 ratio. In other words, teachers in Ontario earn 5% more than the average in the OECD nations.
Could it be that Canada is simply an expensive place to “do business”? I can not come up with the OECD average for police officers, but I can come up with one for doctors. Although the article talked about 2006 income, the ratio should still hold:
http://www.practicelink.com/magazine/vital-stats/physician-compensation-worldwide/
So for a general practitioner in Canada, his income, adjusted for PPP, is 1.3375 that of his OECD counterparts. Since many of the OECD nations have come through a recession greater than that of Canada, I can only assume that the ratio has increased.
While the stock market is highly efficient, the job market does not appear so.
#2. The job market (this one in particular), is not at all efficient as the union makes it highly inefficient
If the job market were efficient
a) Teachers salary's would not be 83K a year ( more like $60-65K)
b) Teachers would work a full year
c) Teachers would only require approx. 10 sick days a year
d) Teachers would not be able to bank these sick days for a $40K bonus at the end of their careers
e) The teachers parking lots would not be emptied @ 3:16
f) Poorly performing teachers would get fired
g) Teachers would be responsible to fund 100% of their pension
Most importantly
The students interests would not be secondary, after teachers financial interests
The students would never ever be used a pawns in negotiations (I am furious that teachers did this)
The students would be properly prepared for the world when they graduate.