Are College Professors Paid Handsomely?

It depends on the institution and discipline. The hard sciences, engineering, business, and medical schools often make significantly more than the humanities and social sciences.

The Factors Affecting College Professor Salaries

The salaries of college professors can vary widely based on several factors, including the type of institution (public vs. private), the professor's field of study, level of experience, and geographic location.

Institution Type

Professors at research universities frequently earn more than those at community colleges or smaller liberal arts colleges. For instance, tenured professors at prestigious universities can earn substantially higher salaries compared to their less renowned counterparts.

Field of Study

Salaries also vary by discipline. Fields such as engineering, business, and computer science typically offer higher salaries than humanities or social sciences.

Experience and Rank

Full professors generally earn more than associate or assistant professors. Tenured professors usually have higher salaries than non-tenured faculty.

Geographic Location

Salaries can differ based on the cost of living in different regions. Professors in urban areas or regions with a high cost of living may earn more than those in rural areas.

As of 2023, average salaries for full-time faculty in the U.S. range from approximately $60,000 to over $150,000 per year depending on these factors. However, many professors, especially those in lower-paying fields or at less prestigious institutions, may not perceive their salaries as handsomely compensated.

Academic Inequality: From Adjunct to Tenured Professors

There is an enormous amount of inequality in academia. At the low end, you have adjunct professors who are paid by the credit and do not receive any benefits, such as health insurance. At the high end, you have tenured professors with special appointments who may earn close to six figures. Academia is corrupt to the very core.

Personal Perspective

I didn’t become an academic expecting to accumulate wealth. After nearly six years in a doctoral program, I turned down an interview for a research position at IBM to accept a much lower-paying, temporary appointment at a prestigious undergraduate college of science and engineering. My reasons were simple: to decide whether I wanted to teach by working with very bright undergraduates.

Engaged and about to be married, a higher salary would have been nice. However, the opportunity for such a salary was unlikely to present itself again. Quickly, it became clear that being a college professor was what I wanted to be. Although my temporary position turned into a tenure-track position, I did not earn tenure.

Approaching my mid-thirties and in many other occupations, I would have been well along in my career, I was looking for a new position. Tenure in academic positions is neither automatic nor guaranteed.

Upon being hired at a state university where I spent the rest of my career, I realized that although I could live on my salary, it would never be comparable to what I could make in a non-academic position. Being at a state university meant that my salary was baked into the public university salary structure. Nevertheless, we managed, and it was what I wanted to do.

Some argue that a college professor's salary is effectively for nine months' work with summers off. However, in practice, those unpaid months meant working on projects, often supporting teaching responsibilities, including staying current in my specialty.

Was I "paid handsomely" as a college professor? It depends on what one compares my salary to. Was I paid better than non-tenure-track temporary appointments? Yes, but not outrageously better. Was I paid handsomely compared to elementary school teachers, grocery store workers, or other civil servants? Yes, relative to some of them, but not all.

However, I was doing what I thought was important and good at it - and what I wanted to do. Freedom to teach and write and think about the things I believed important amid very bright and articulate and inquisitive people, both faculty and students, was a privilege.

Choosing to retire at 65, I was able to do so and continue teaching halftime and working on projects and writing for another decade. Fully retired now with an adequate pension, full health benefits, and supplemented by Social Security, it feels like I am being paid handsomely - not for work I am currently doing as I’m retired, but for work I did for forty-five years.

While it would have been nice not to struggle so much to make ends meet month-to-month through the earlier years of my adult life, at 83, my life is comfortable, and I can do most of what I want to do without being wealthy.

So it depends on how you count.