How much do college professors make?’ This is a common question among those who are considering a career in academics and the general public who are just curious especially because of the rising cost of college, they will like to know if the additional money goes into raising the salaries of college professors who seem to be the most important assets of every college.
How Much Does A College Professor Make With A PhD
Being a college professor is one of the most exciting and enriching job as you get the opportunity to form young minds and set them on the journey to becoming great people in life and work. As a professor you meet all manner of students from different backgrounds , countries and world views and that helps to make your own life richer, each student is different and you get to meet hem all. But no matter how interesting all these can be, if a college professor is not paid well for his job in research and teaching then he is likely to look for a job elsewhere.
How Much Do College Professors Make In A Year
There are many things that college professors do. They teach, research, supervise and perform other administrative functions . Sometimes there is hardly any line drawn as they can also have a university-assigned function in the industry or a government related function as they are seen as the reservoir of knowledge and should provide scholarly direction for society-which is itself a huge task and make many to ask how much do college professors earn?
The Career Path
For a professor to become one he has to traverse a vast academic territory which can be quite challenging. To be a full professor he has to have passed 3 stages which are
- Assistant Professor
- Associate professor
- A full tenured professor
The last is the highest rank
Professors do not earn the same salary across board even though they do almost the same functions, the pay varies across board based on the field of study as well as their rank or how senior they are in the college. Also, the professors working in private colleges do not earn the same amount with their counterparts in public universities as the private colleges offer a higher pay package.
The National Average
The US bureau of labour statistics figures show that the national mean salaries for professors in the US is $73,000 annually. And these number is the mean of what the professors in the public and private sector receive.
Specifically, a full-tenured professor in a public university earns about $114,000 while an associate professor earns around $82,000 and an assistant professor is paid about $70,000.
Variation In Salary Within Different Fields
There is a major difference between what professors in different academic fields receive.
Below I will show the different salaries between fields.
A medical professor teaches medicine courses to students studying to become doctors and to qualify to attend to human health. They require qualification such as MBBS, MD, DO other specialists degrees.
Their average yearly salary is $154,000
The salary range is $134- $210,000
– Engineering Professor
They beed specialists qualifications inn their specific fields of engineering to be ablate train new engineers .
Average salary $134,000 – $210,000
Average salary $154,000
They teach accounting principles and need a doctorate degree and a CPA licence .
Average salary $121,000
Salary range $91-$196,000
They impact knowledge related to business principles , finance, marketing, management and others.
Average salary $117,000
Salary Range $90,000- $202, 000
For those who have always asked ‘how much does a college professor earn’ the answer is not straight forward. There is an average but it only tells half of the story . The real answer is ‘it depends’ the salaries vary according to fields, rank, colleges and other factors