A stipend for teachers is a fixed sum of money paid periodically to cover living expenses and other costs as well as to pay for additional responsibilities teachers take on like coaching, serving as a department chair, etc. . Stipends are usually granted on a year-to-year basis and each district has its own pay scale for these. Taxes, social security, etc. are taken out of stipends. Stipends are different from bonuses, which are not part of the states pay system for the most part. In New York City, for example, newly hired teachers salaries range from $57,845 (bachelor’s degree, no prior teaching experience) to $87,510 (master’s degree, eight years teaching experience, plus additional coursework) . The stipend for the 2023 NYC Teaching Fellows has not yet been finalized, but last year it was $3500.