On the front page of Friday’s New York Times, we noticed an interesting article: “At Charter School, Higher Teacher Pay.” Why is this notable in the MBA world? Well, the answer is that this charter school, where teachers will get paid $125,000 per year, is the brainchild of Manhattan GMAT Founder, Zeke Vanderhoek.
One of the principles that has led to the success of Manhattan GMAT is that the firm offers teachers significantly higher compensation than competitors. Because of this, Manhattan GMAT has been able to attract, hire and retain instructors with scores of 99th percentile (compared to competitors where instructors have scores of 90th percentile) and therefore offers a better “faculty” to instructors.
Using this philosophy, Zeke Vanderhoek is now challenging the tenets of the public education system and, as the article states, many will be watching.