+1 vote
asked ago in General Economics Questions by (220 points)
I teach an introductory economics course at a public policy school. I will be going on maternity leave 6 weeks into the semester, and the Department needs to hire someone to teach the last 12 weeks of the course. What would be fair (market rate) compensation for this? The course will be entirely online due to covid-19, and I would provide my teaching materials.

1 Answer

0 votes
answered ago by (3.3k points)
Two answers based off two starting assumptions:

(1) Assumption: the minimum quality of teaching at your institution has remained unchanged during this pandemic and moving everything online.
Answer: Take the salary/wage that your institution pays non-tenure track individuals to teach an intro econ (or similar intro course); this may be a lecturers, visiting, or PhD students. If the numbers vary a bit, take the average. Then prorate their semester pay by 12/(6+12)=2/3.

(2) Assumption: online teaching should have a different compensation (e.g., b/c it gives the instructor flexibility to live wherever they want or b/c it is easier/harder).
Answer: take a sample of salaries of econ instructor as online institutions (prior to 2020). Then prorate their semester pay by 12/(6+12)=2/3.

IF I estimate #1 from the subjective info from my previous institution, it would be about  $8,500*2/3 = $5,700
IF I estimate #2 from some random googling, it would be about $4,400

Thus depending on your institution, that should give you an upper and lower bound :)