The escalating costs of higher education and the often-discussed compensation of university presidents stand in stark contrast to the more stable salaries of college professors. While rare instances of professors earning millions exist, the typical academic’s financial reality is more nuanced.
Large group of business people at lecture in New York style auditorium
- In the academic year 2023-24, full college professors in the U.S. earned an average salary of $155,056.
- Professors holding senior positions at private universities typically receive the highest annual incomes.
- Adjunct faculty and non-tenured professors generally earn significantly less annually.
- Despite the continuous increase in student expenses and executive pay in universities, professor salaries saw a modest rise of just 4%, which translates to a mere 0.6% increase when adjusted for inflation.
While the profession of a college professor is often rich in intrinsic rewards, understanding the salary structure is crucial for those considering this career path. University professor salaries demonstrate considerable variability, and contrary to some perceptions, the compensation is not always as lucrative as one might assume. In fact, salary discrepancies exist when compared to other professions requiring advanced degrees.
However, the average college professor salary remains a respectable figure. Data compiled by the American Association of University Professors (AAUP) reveals that the average full-time college professor across all institution types and ranks earned $112,139 in the 2023-24 academic year. Specifically, full professors in the U.S. averaged $155,056 during the same period, highlighting the earning potential at the highest rank.
The AAUP’s comprehensive analysis, encompassing nearly 870 institutions nationwide, indicates that several factors significantly influence professors’ average pay. These include the professor’s level of education, job rank, and the type of institution they are affiliated with.
Decoding Professor Salary: Rank and Institution Type Matter
The academic hierarchy for college professors typically comprises three primary ranks: Assistant Professor, Associate Professor, and Full Professor. Assistant professors usually represent the entry point into a tenure-track position, holding a full-time role and possessing a terminal degree. Associate professors are mid-career, tenured academics, while full professors represent the most senior and experienced level within the faculty.
Beyond these traditional tenure-track positions, universities also employ adjunct faculty and full-time, non-tenured faculty, often with titles such as Lecturer or Instructor. These roles often carry different compensation structures.
Furthermore, the classification of the university itself—whether it’s public, private (independent or religiously affiliated), or the highest degree offered (doctoral, baccalaureate, or associate’s)—plays a significant role in determining annual professor salaries.
Average Professor Salary by Institution Type, 2023-24
| Rank | All Institution Types | Public | Private or Independent | Religiously Affiliated |
|---|---|---|---|---|
| Professor | $155,056 | $145,112 | $196,353 | $136,928 |
| Associate Professor | $106,216 | $104,179 | $120,631 | $97,721 |
| Assistant Professor | $92,094 | $90,309 | $105,491 | $83,400 |
| Instructor | $69,307 | $65,742 | $79,079 | $73,229 |
| Lecturer | $75,841 | $70,956 | $95,406 | $66,824 |
| No Rank | $76,502 | $76,878 | $74,370 | $74,857 |
| Combined Average | $112,139 | $106,726 | $137,889 | $102,177 |
Source: American Association of University Professors, 2023-24 Faculty Compensation Survey
The data reveals that full professors at private, doctoral-level institutions command the highest average salary, reaching $227,163. In contrast, assistant professors at public two-year colleges receive the lowest average salary, at $49,623. This stark difference highlights the wide salary range within academia.
At baccalaureate institutions, the disparity between public and private sectors is also evident. Full professors earn an average of $109,631 at public universities and $134,507 at private universities, a 23% difference underscoring the potentially higher earning capacity in the private sector.
Stagnant Professor Pay Amidst Rising Education Costs
Analyzing the trend over the past decade, the average college professor salary in the U.S. has experienced minimal growth. Between the academic years 2022-23 and 2023-24, the overall increase in average professor salaries across all ranks and institution types was a mere 4%.
Accounting for inflation, the real increase dwindles to a negligible 0.6%. This stagnation in professor compensation is particularly noteworthy when juxtaposed with the continuous surge in college tuition fees and the escalating salaries of university presidents and top administrators. Over the last ten years, college tuition has surged by approximately 46%, while executive compensation in higher education has risen dramatically, often outpacing readily available tracking data. This disparity raises questions about resource allocation within universities.
The Economic Realities for Adjunct Professors
A 2023 report by the American Federation of Teachers (AFT) sheds light on the financial struggles faced by adjunct professors – faculty members who are not on the tenure track and often employed on a contract basis.
The AFT survey, encompassing over 1,043 responses from faculty at both two-year and four-year institutions in 2022, revealed that over a quarter of adjunct professors earn less than $26,500 annually. This income level falls below the federal poverty line for a family of four, highlighting the precarious financial situation of many contingent faculty.
The findings also challenge the common assumption that adjunct professors typically supplement their teaching income with other well-compensated employment. Only 15% of respondents reported being able to comfortably meet their monthly expenses. Alarmingly, nearly half reported delaying necessary healthcare due to cost concerns, and almost 20% rely on Medicaid for health insurance.
The AFT study also emphasizes the increasing reliance of colleges and universities on adjunct faculty. Currently, over two-thirds of faculty positions are ineligible for tenure, and 48% are part-time appointments. In contrast, four decades ago, 70% of faculty positions were tenured or tenure-track, indicating a significant shift in academic employment models.
The Exception: Million-Dollar Professor Salaries
While the vast majority of university professors earn less than $250,000 annually, a small fraction achieve annual salaries exceeding $1 million. These exceptional cases typically involve professors holding additional administrative or clinical roles within their institutions, beyond their primary professorial duties.
In 2021, Zev Rosenwaks, a tenured clinical professor at Cornell University, earned a staggering $8.8 million, as reported in publicly available tax filings. Rosenwaks’s compensation was nearly eight times higher than the university president’s salary at the time, demonstrating the outlier nature of such high earnings.
Rosenwaks was among several Cornell professors who earned millions in 2021. Associate clinical professors Hey-Joo Kang and Kieyhun Daniel Riew, and assistant clinical professor Rony Elias, each earned over $3 million that year, suggesting specific departments or roles might offer significantly higher compensation.
Beyond Cornell, other prestigious universities occasionally provide million-dollar salaries to select professors. In 2021, Harvard computer science professor David J. Malan received $1.5 million in reportable compensation, according to tax filings. Similarly, University of Southern California professors Laura Mosqueda and Charles Zukoski each earned just over $1 million in 2021. Mosqueda is a professor of family medicine and geriatrics, while Zukoski is a professor of chemical engineering, indicating diverse fields can yield top-tier salaries.
In conclusion, while the average salary for a university professor provides a comfortable middle-class income, significant variations exist based on rank, institution type, and tenure status. The economic realities for adjunct faculty are particularly challenging, contrasting sharply with the rare but highly publicized cases of professors earning millions. Understanding these nuances is essential for anyone considering a career in academia and for a broader understanding of the economics of higher education.
