BOSTON — Taxpayers, get your wallets out. Boston’s school chief is about to pocket a compensation package barreling toward $400,000 after a massive raise — while most kids in the city can’t read or do math on grade level.

Superintendent Mary Skipper walked into the job in 2022 with a $300,000 salary. Last year she hauled in about $349,000 — and now, thanks to a cushy raise and a $60,000-a-year retirement annuity fattening her nest egg, her pay package is climbing toward the $400,000 club.

That’s CEO money. For a school system where roughly three out of four students are failing to meet grade-level standards.

Fourth-grade reading sits in the high-20-percent range. Middle-school math trails the state. One kid in four is keeping up. The rest are sinking — fast.

But don’t worry — City Hall says everything’s fine.

Just a few months ago, Mayor Michelle Wu proudly joined Skipper for a feel-good back-to-school canvass, celebrating “pulling every lever” and using “every resource” to give kids a “world-class education.” She boasted about declining absenteeism and volunteer door-knocking — as though pep talks and selfies at stoops could replace reading instruction and working multiplication tables.

And in her glossy “State of the Schools” speech, Wu cheered green school buses, after-school expansions, and new “climate-ready” classrooms — while student test scores are busy nosediving into the basement.

Electric buses… but no reading proficiency. Sustainability plans… but parents are buying phonics workbooks because school isn’t cutting it.

Meanwhile, the superintendent’s compensation climbs like everything’s going great — and her retirement account is being pumped with $60k a year whether students learn to read or not. That’s a wealth-building machine most Boston families will never get close to.

City officials say change takes time. Families say they’ve been hearing that line for years while the numbers only get worse. They aren’t seeing a turnaround — they’re seeing kids fall behind and leaders cash in.

Boston parents are desperate for gains in the classroom. What they got instead was a raise in the boardroom.

Because right now in Boston Public Schools, one thing is performing at an elite level — the superintendent’s paycheck.