The American Association of University Professors came to the conclusion that in 2017-2018, the salaries of US university teachers grew at the fastest rate over the past five years. On average, salaries rose by 3.8%. However, the growth of welfare of employees of universities was uneven and depended on many factors. For example, coaches earned a lot more than professors.
In particular, teachers in public universities and colleges turned out to be in the best condition - employees of private and religious-sponsored educational institutions earned less. In turn, the salaries of presidents (rectors) of colleges and universities increased by 35%, while the salaries of middle-level teachers — only 5%.
Another funny paradox. In 2006, five of the 853 managers of American universities earned more than $ 1 million, another 112 - more than $ 500 thousand (on average, $ 416.7 thousand). In the same year, the salaries of professors ranged from $ 63 thousand to $ 136.3 thousand (on average, $ 101.7 thousand). At the same time, the average salary of coaches of sports teams of universities and colleges exceeds $ 1 million. Therefore, a coach, for example, a university football team in the first division, is 9.4 times more valuable than a professor of mathematics. At the University of Oklahoma, the coach of a football team receives 11 times more than the president of this university.
The salary level of the professor depends on the subject he teaches. The salary of the professor of English and literature was taken as a basis for evaluation (that is, was 100%). The salary of a law professor in 2006 was 154% (compared to 100% of English professors), business administration - 146.7%, economics - 132%, professors teaching computer disciplines - 127.5%, arts - 124%. Only professors engaged in the teaching of foreign languages and literature, as well as specialists in the field of communications, earned less English specialists.
The high pay for business professors is partly due to the higher cost of their knowledge. According to the Wall-Street Journal, in 2006, the average head of a company (to designate the first person of a company that does not own, but its manager, in the USA is used the term CEO - Chief Executive Manager), in 99% of cases it has education, earned $ 6.54 million. And the CEO salaries are growing much faster than the earnings of other employees. In 2006, their income increased by 10.6%, compared with 2005, which is three times more than the income growth of an average American employee.
According to the research centers of the Institute for Political Studies and the Center for Corporate Policy, the highest salary in 2006 was received by the head of the financial company Goldman Sachs - $ 54.81 million. It is interesting that in many cases the salary of a top manager depends little on the results shown by the firm he manages.
What is the average salary of a University Professor?
The U.S. Bureau of Labor Statistics reports that the average salary of a University Professor was $75,430 annually as of May 2016. The lowest-paid 10 percent of all University Professors earn less than $38,290, while the highest-paid 10 percent are paid more than $168,270 per year.
The average salary of a University Professor depends on several factors, such as the size and location of the college or university, the subject taught, and whether the institution is private or public. For example, a University Professor teaching in the health sciences field (such as nursing, medicine, or veterinary medicine) earns an average of $99,360 per year. In contrast, a University Professor teaching education earns an average of $62,520 annually.
The American Association of University Professors reports that the salary of full-time faculty at private colleges and universities average $105,323, as compared to $103,019 for those teaching at public colleges and universities. And Professors working at four-year institutions, whether private or public, earn higher salaries than those employed at two-year schools.
Are College Professor positions available?
The U.S. Bureau of Labor Statistics expects employment for College and University Professors to grow at a faster-than-average rate. The competition for tenure-track positions will continue to be stiff, making openings more widely available for part-time and non-tenure-track positions. Candidates holding a Ph.D. in their subject area will likely be the most successful applicants.