This study examines (1) the financial consequences of pursuing teaching as a profession in Oregon and (2) the progression of teachers' salaries at three levels of public education (elementary-secondary, community college, and university) over the period 1976-77 through 1985-86. A longitudinal research design focused on two cohorts of teachers: beginning and experienced. The study revealed that both beginning and experienced elementary and secondary school cohorts began their teaching careers with a lower salary than community college and state system university teachers. University teachers' beginning salaries were higher than those of teachers in community colleges. Ten-year progressions for teachers' salaries differed at the three different levels. Elementary and secondary teachers in the beginning and experienced cohorts received salary increases above the rate of inflation. Community college teachers in the beginning cohort received salary increases above the rate of inflation, whereas experienced teachers did not. State System of Higher Education teachers in both beginning and experienced cohorts did not receive salary increases that kept pace with the rate of inflation. Contains eight figures, seven tables, five bibliographic entries, and four appendices. (IW)