Save are teachers.

(Lou Minatti)

Those poor, deprived teachers now make up 12% of US millionaires.
And, here we thought it was the evil bankers and greedy doctors who were making all the money?

The Wall Street Journal Blog reported:

America’s millionaire population is still growing – though not by much.

The number of millionaires in America grew by 200,000 in 2011, according to a new report from Chicago-based Spectrem Group.

That sounds like a lot — especially with so many Americans still losing jobs and homes. But it represents a growth rate of only 2% – much slower than the growth in 2009 and 2010.

According to Spectrem, there are now 8.6 million households in the U.S. with a total net worth (minus principal residence) of $1 million or more. The number of households worth $5 million or more and $25 million or more also remained fairly flat, with growth of less than 2%. There are now 1,078,000 households worth $5 million or more and about 107,000 people worth $25 million or more.

The number of millionaire-households is still well below the pre-crisis high, when there were 9.2 million worth $1 million or more. (Spectrem uses surveys of more than 2,500 families for its report).

George Walper, president of Spectrem Group, said the results show that weak financial markets and the slow recovery in real-estate (especially investment real-estate for the wealthy) held back growth.

“We’re still not back to pre-crisis levels,” he said. He added that while the optimism of millionaires is increasing, “these folks are still worried.”

The report also broke down today’s millionaires by occupation and former occupation if retired. Managers make up the largest group, with 17%, followed by educators (12%), corporate executives (7%), entrepreneur/business owners (6%) and attorneys and accounts.

Obviously, it pays to teach.

 

 

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  1. I think that this shows that college administrators and school board administrators including principals are way overpaid. I don’t believe for a minute the average teacher falls in their stratusophere.

  2. Why are all educators grouped together and specific levels/positions not given when all of the other top 3 categories are business management positions and account for a total of 30% of the millionaire categories?

  3. #2 March 31, 2012 at 11:05 am
    Swifty commented:
    I think that this shows that college administrators and school board administrators including principals are way overpaid. I don’t believe for a minute the average teacher falls in their stratusophere
    ::::::::::::::::::::

    With college prez making $500,000 a year, yes. Still, our local town HS guidance counselor drives a LEXUS … and managed ONE college grad out of the class of over 100 HS grads.

    It’s not hard to figure out where the money is being eaten and how little return in student achievement we get.

  4. According to the American Association of University Professors, 2008-2009 salaries for college professors (excluding medical school, law school, etc.) show the private research universities at the top.

    1. Harvard 192,600
    2. Stanford 181,900
    3. Princeton 180,300
    4. Chicago 179,500
    5. Columbia 175,200
    6. Yale 174,400
    7. Caltech 172,500
    8. NYU 170,700
    9. Penn 169,400

    Other notables were:
    Duke 161,200
    MIT 160,300
    Dartmouth 154,500
    Cornell 154,300
    Brown 146,400

    http://www.collegeconfidential.com/ There is more on this site.

    Now, this doesn’t take into account, I would assume how many years of service, books the write, their raises, their speeches and compensation and they have some great retirement packages.

    Also an added note, they hawk their books in classroom and the students in some cases must purchase their books for classroom instructions.

    Now, who gets the big bucks, wait for it, LIBERAL PROFESSORS, they make up the big majority.

  5. I agree with Swifty. More than likely no teacher is in this group, unless they are retired and invested well. The groups should have been a little more defined. An educated (lol) guess is that all in the millionaire educator group are overpaid superintendents and tenured college professors who do research, not “education” as such.

  6. 12% of US Millionaires Are Educators

    Shouldn’t these millionaires pay their fair share then?

  7. I’ve known quite a few wealthy college professors and even more executives and lawyers who would be hard pressed to come up with $1,000 in ready cash. Lawyers and marketing executives feel they have to get a new car every few years, wear fashionable clothes and patronize trendy eateries as signals to potential clients that they are indeed successful. As a result many starting out in those profession develop spending habits that can hinder the genuine accumulation of wealth. The reverse snobbery of the faculty lounge places a premium on driving the 20 year old Subaru, wearing threadbare clothes and eating at places where you bring your own beer or wine. These habits of not spending money can be equally hard to break.

  8. Actually these professor over time make more than some Doctors. And remember is you have a College student you really need to check and see what their professor is teaching YOUR kid.

    I have and my son said, he has never heard so many liberal opinions in his life being taught in the classroom. And some professor are more interested in writing books, they actually are writing them in the Classroom. Parents are paying them the big bucks for this.

  9. http://chronicle.com/article/What-Private-College/129979/

    GO HERE, THIS IS A REAL HEAD SPINNER. UNBELIEVABLE.

  10. 1. Constantine N. Papadakis
    Drexel University (1995–2009)
    Full profile →
    $4,912,127

    +202%

    2. William R. Brody
    Johns Hopkins University (1996–2009)
    Full profile →
    $3,821,886

    +349%

    3. Donald V. DeRosa
    University of the Pacific (1995–2009)
    Full profile →
    $2,357,540

    +118%

    4. Henry S. Bienen
    Northwestern University (1995–2009)
    Full profile →
    $2,240,775

    +78%

    5. Nicholas S. Zeppos
    Vanderbilt University (2007–Present)
    Full profile →
    $1,890,274

    –21%

    http://chronicle.com/article/What-Private-College/129979/

    GO HERE, THIS IS A REAL HEAD SPINNER. UNBELIEVABLE.
    I post a section of this site.

  11. And we the tax payers have overpaid their pensions and their sorry lame a$$es way too long…f’n unions

  12. Piss-poor return on investment.

    tD

  13. Greedy fat cat college administrators and faculty raking it in while they raise tuition 9% per year and claim they have to do it because mean Republicans won’t subsidize them enough or whatever. And all this so they can brainwash students who are going into massive debt for their dubious degrees.

    The whole higher ed scam needs to be destroyed.

    Wait, did I say “destroyed”? I meant to say “fundamentally transformed”, of course.

  14. Explains why the teachers and unions in Wisconsin are in full blown panic over Gov. Scott Walker. Guess they fear the gravy train is running out of track.

  15. In Missouri:

    http://www.missourieducationwatchdog.com/2011/08/more-millionaire-pension-information.html

    Most are administrators. They are all public employees.

  16. Actually, the article says, “…followed by educators (12%)…” not “teachers”. School management usually derives from the ranks of teachers, but no longer have classroom responsibilities.

    A young Liberal friend recently lost her position as a school counselor because there was no more money to pay her. At the same time, the district superintendent got a raise of $50,000. Her part of the raise was $28K. She’s not so Liberal now.

  17. Educators/Progressives/Socialist getting rich in a capitalist system how disingenuous of them……

  18. Here in Louisiana teachers make different amounts in different parts of the state. The more affluent parts of the state starting teacher pay is around $23,000 a year. And there are step raises teachers get the longer they are there, of course, but teachers approaching their retirement can make around $50,000 a year. But it’s no secret that what comes out of their paychecks every month is hidious. Louisiana has the biggest insurance scams running that our former governor went to prison for ten or fifteen years and he was a known crook and didn’t even try to hide it. He made his money off insurance company kickbacks from the crooked insurance company’s he and his crook friends started just to make a bunch of money and that’s it. They would collect premiums, but not pay out hardly any claims at all and screw people badly. Then when the law was about to catch up with them they would all of a sudden go bankrupt over night and everyone would scatter like roaches with the light turned on.

    Teacher health insurance is around $300 – $350 a month, minus dental which is additional. That is a rip off because I was working at a company that had around 400 employees and we had the exact same insurance with the same coverage for $55.00 a month. There are over 20,000 teachers in Louisiana, now what’s wrong with that picture. The state is collecting millions a month from teachers for health insurance that should cost alot less than a company on the same plan, same company, same coverage than a company with 400 employees, don’t you think?

    That’s just a example of the scams, rip offs, and pay under the table that goes on in a state with the highest amount of money going into education than any other state in the country. There are more millionaires than you can shake a stick at and most of them are in administration, and college professors, deans, and let’s not forget about all those FOOTBALL COACHES. Just guess how much LSU’s head coach makes. His salary is undisclosed!! That’s how much he makes. LSU Football Dept. has so many millionaires working for it, and contributing into it that just the Football Dept. owns it’s OWN BANK!!! to hold all the money for it. Louisiana has more colleges and universities than any other state per capita. As a matter of fact we’ve got so many that the separate part of the state budget is over thirty percent of the annual budget of the entire tax base.

    Here in the past month the re-elected governor has declared he is combining Louisiana Tech University with LSU-Shreveport in order to try to rein in some of the huge money being spent on education. Except it’s not education, it’s a huge money making business that has multimillion dollar industries that feed off of it!



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