What Is the Salary Range of a Professor?
Professors at colleges, universities and other postsecondary institutions around the United States are paid for imparting their expertise and knowledge to students, in classrooms, lecture halls and laboratories, and to the world at large through research, publication and speeches. For their efforts, they receive widely varying amounts of annual compensation from their institutions. And the field is growing; according to the Bureau of Labor Statistics, between 2006 and 2016, the number of postsecondary teachers is expected to grow by 23 percent.
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Factors Affecting Pay
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The incomes of professors in the United States vary by institution, by field and by geographic area. Generally, 4-year colleges pay more than 2-year colleges; private institutions pay more than public or religiously affiliated institutions; institutions in more expensive geographic areas tend to pay better than those in less expensive geographic areas; and professors working in fields (such as law or medicine) in which the alternatives to academic employment are high-paying tend to be paid more than professors in fields (such as the humanities) in which the alternatives to academic employment are not high-paying. Rank also affects pay, of course: full-time tenured professors earn more than full-time associate professors, assistant professors, instructors and lecturers. So, a lecturer in English at a rural public 2-year college would be likely to earn far less than a full-time law professor at a private law school in New York City.
Salary Survey Results, 2006-2007
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According to the Bureau of Labor Statistics, the American Association of University Professors found that in 2006-2007, the average salary of a full-time faculty member at a postsecondary institution was $73,207. The average salary, broken down by rank, was as follows: $98,974 professor; $69,911 associate professor; $58,662 assistant professor; $42,609 instructor; and $48,289 lecturer. Part-time and adjunct faculty earn less.
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Bureau of Labor Statistics Salary Data
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According to the Bureau of Labor Statistics, the median salary for all teachers at the postsecondary level was $56,120. The lowest 10 percent of this group earned below $27,590, while the highest 10 percent earned over $113,450. For the middle 50 percent, salaries ranged from $39,610 to $80,390.
Additional Income
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Professors have opportunities for making money outside of their institutional position. They may earn money from doing research or publishing books or articles. They may also earn money from doing speaking engagements, teaching additional classes or doing consulting work.
Benefits
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Benefits of a university teaching position can be substantial. They may include access to campus facilities, such as gyms, and tuition waivers for dependents. They may also include flexible schedules and the possibility for paid sabbatical leaves.
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