The power to which the base e (e = 2.718281828.......) must be raised to obtain a number is called the natural logarithm (ln) of the number. In simpler terms, my 8th grade math teacher always told me: LOGS ARE EXPONENTS!!
New Jersey is one of the wealthiest states in the United States of America, with a per capita income of $35,928 (2012) and a personal per capita income of $50,781 (2010). Its median household income is $71,637 (2012) and its median family income is $87,389 (2012), both the second highest in the country.
The average starting salary for a teacher in NJ is $38,408 (http://teacherportal.com/teacher-salaries-by-state). At the maximum of a 2% raise per year, it would take that teacher more than 23 years to reach 60K. For someone with 4 years of college, that is a paltry figure.