Where I live in New York, they require you to have a masters degree just to get in the door. I know other school districts that will hire you with a 4 year degree, but you have "x" amount of years to finish up your masters. I don't know about Virginia because I don't live there.
There is a lot of variables you have to throw into this equation. It took my dad 25 years just to crack the $50,000 mark in teaching, and that's with 2 master degrees. Those who start out make much less then that. He doesn't get paid in the summer, but is expected to come in and work on administrative things like scheduling. He can't stand the politics of the job. Over the summer he had to go to the school board and justify the educational purpose of the senior prom. This is the same school board that forced them to have a gay and lesbian club at school. Then there is the pressure of getting these kids through the regents. Most come into class stoned and don't open up their text book all year long. I wouldn't want to do it. All that education to be a baby-sitter.