Teaching is one of those professions you can safely say no one goes into for the money. One way some teachers boost their modest paychecks is by going back to school. Most school districts pay some kind of bonus if you have a master's degree. Districts today currently pay about an additional $8 billion every year to teachers with master degrees. Many teachers get a master degrees in a field not directly related to their teaching, such as education administration. An exception are master degrees in content areas like math and science. Education Secretary Arne Duncan favors paying teachers based on their performance in the classroom instead of their academic credentials.
I think that professional development (for example through lesson studies) could have more impact on improving student performance than master degrees that focus on theoretical knowledge.
Should teachers get a raise for earning a master's? | Marketplace From American Public Media