It is commonplace for college students to maintain part-time jobs while pursuing their baccalaureate. Such jobs help them pay some expenses while earning their degree or diploma.
Some of these part-time jobs are in the service industry, with many seeing waiting tables, as a cool source of easy income. However, many students retain these jobs even post-graduation.
From Teaching to Waiting Tables
Genevieve Sleboda is one of those people who continue waiting tables even after earning their degrees. Sleboda shared in a now-viral TikTok video how she went to obtain a master’s degree in education.
However, Sleboda has discovered over time that none of the education jobs she found could help her make rent.
Waiters Make More Than Teachers?
So, the Florida resident opted for a compromise, taking up an offer to wait tables at a bar. According to Sleboda, this job pays better than the ones in her education specialty.
Sleboda felt that slaving it out on education from 9 to 5 was not worth the meager sum that these jobs paid. So, she opted for the flexibility of doing less and earning more.
Interesting Career Transitions Prompted By Economic Realities
The TikTok post has now been deleted, but Sleboda was reported to have said in the video, “In this economy, as a post-grad Gen Z, I cannot afford to start a career on a first-year salary, I tried doing what I love — it doesn’t work out for me.”
An assessment of the pay of people with education jobs reveals they are not the worst in the market.
Teachers Are Not Low-Rung Earners
According to data released by the Bureau of Labor Statistics (BLS), teachers earn an annual median of $61,250. Meanwhile, the national median yearly earnings in the US is $59,540, indicating that teachers earn above the national average.
However, Sleboda thinks that her serving jobs help her break even more than the education employment opportunities.
The Misery of Living Paycheck to Paycheck
According to Sleboda, she lived paycheck to paycheck when she had an education job. When paying rent, she often had to take out money from her savings to make up for it.
In the TikTok video, Sleboda did not say how much she paid for rent. However, a quick research on Rent.com revealed that an average Floridan incurs about $2,099 monthly in rent.
Juxtaposing Teachers’ and Servers’ Pay
The monthly estimate shows that the cost of rent in Florida amounts to about $25,000 a year. Compared to her $61,250 annual pay as a teacher, rent would eat up roughly 41 percent of Sleboda’s annual income.
According to the BLS’s books, servers make an average of $29,120 yearly, which is way lower than her education remuneration.
Servers May Be Better Off Financially Than Teachers
What servers lack in basic pay, they tend to make up in tips. However, the tips are not consistent.
For example, Adia, a staffing company, suggests that servers make an average of $100 per night. When extrapolated, that figure adds up to $500 a week and as much as $24,000 a year in tips alone.
Servers Work on Their Terms
Add the total annual tips servers earn to their basic pay, and they net roughly the same amount as teachers. Besides earning roughly the same amount as teachers, some servers, like Sleboda, may even be better off.
In addition, servers don’t have to slave out extra unpaid work hours like teachers.
Get an Advanced Degree and Get a Salary Upgrade
Over the years, the consensus has been that people should pursue higher or more degrees to increase their earning capacity. However, over time, the cost of acquiring a degree has made it more of a burden than a benefit.
An Education Data Initiative suggests that a master’s degree holder has about $53,500 to $88,700 of debt trailing them for most of their career.
Serving the Banks or Earning a Degree?
Of course, a master’s degree holder earns a competitive salary. However, they need to recoup Uncle Sam for several years after graduation to clear their loan and start saving.
So, it may be wise to do a cost-benefit analysis before enrolling in that advanced degree. Ask yourself if the end justifies the means.
Your Profession Will Determine if an Advanced Degree Is Worth the Sacrifice
Investing in an advanced degree in certain specialties may be worth it. Doctors and lawyers, for example, may optimize their earnings by acquiring an advanced degree.
However, a BLS report suggests that such a move is not advisable for someone in education. Having a master’s degree does not make very much difference in a teacher’s pay.