In light of September Blue's post commenting on warning students about the academic job market, this post seems particularly timely.
I am timetabled to teach 4 hours a week and am paid for 12 to account for prep time. Of course, it's token "prep time" - I work many, many more than I have ever tried to count (if I worked out how much I get paid per actual hour worked it would be too depressing to think about).
Setting aside, for the moment, my second teaching job - 2 of those 4 scheduled hours are taken up by this - for which I have not been paid at all yet because of their different pay claim system, I'm pausing to think about my pay slip from the big University in the City where the Castle is also a Prison.
When I openend it the other day I had a pleasant surprise. More money than I was expecting! And it wasn't even a mistake that they would take back from me; I had forgotten about the three days I had worked as secretary in Philosophy. Bonus money! (Well, already spent on bills, but bonus in being there when I wasn't expecting it). But what was more of a surprise - and not quite so pleasant - was that I discovered that I got paid almost as much for 3 days of secretary work as I did for a whole month teaching in English.
I know I'm lucky to have any sort of academic job at all. I know I'm lucky to get paid (however little at the moment) to do something that I really enjoy doing. But if I didn't love the teaching and the research - when I finally get to do some - I'd be very tempted to be a secretary full time.
So yes, tell MA students the facts and figures about the job market. And about how flexible you need to be both in terms of type of institution and of place in the country / a country / any country. And about the pay for part time TA work (if it's available - and it may not be).
No one should go into this with their eyes shut. Especially if they would rather be a secretary.
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