This report from Brown University’s Annenberg Institute analyzes the impact of increasing teacher salaries on student outcomes, using New Jersey’s “50K the First Day” campaign—which established a $50K salary floor for public school teachers in the state—as the focus of its study. The paper takes advantage of the campaign’s gradual rollout, allowing the investigators to identify the changes in student outcomes as salaries increased. The paper makes three contributions to the existing literature. First, it is one of the first studies to highlight the effects of teacher salary increases without allowing school districts to handpick the beneficiaries of such salary increases. It also indicates that improvements from salary increases seem to stem from higher-quality hires and increased motivation from existing staff. Lastly, the study provides a cost-benefit analysis of increasing teacher salaries. This paper would be highly valuable to policymakers, who can benefit from considering the implications of the study when designing educational policies.