Few kindergarten through grade 12 public school teachers--only one out of every three--think that their pay is adequate. Low pay is a top reason teachers consider leaving their job and is a top source of job-related stress for one in three teachers. According to national surveys, teachers' perceptions of pay adequacy have not changed--or have worsened--from January 2023 to January 2024. Black teachers were especially likely to say that their base pay is inadequate and that it is a key reason they are considering leaving their job. In this report, researchers use the 2024 State of the American Teacher survey to explore a set of factors that could relate to teachers' persistently negative perceptions of their pay between the 2022-2023 and 2023-2024 school years. Researchers examine how teachers' pay increases, benefits, and major household expenses were related to their intentions to leave and compare teachers' survey responses with those of similar working adults. They focus their discussion on Black teachers because of the worrying changes in these teachers' perceptions of their pay and the negative consequences of their attrition on students.