The term “professor” is used colloquially to refer to anyone who teaches a postsecondary class. It also applies to those university teachers who have achieved the highest rank of tenure, which prevents them from being fired without just cause. Salaries for professors vary by subjects, rank and the highest degree awarded by their institution.
The highest-paid professors by subject as of May 2011, were law teachers, who earned an average $108,760 per year, according to the Bureau of Labor Statistics. The agency did not calculate hourly wages because professors did not work a standard 40-hour week throughout the year. Other subjects that paid the highest mean salaries were health specialties at $99,210 annually, engineering at $97,260 per year, and economics at $94,450 yearly. The subjects with the lowest-paying means were vocational education at an annual $53,480, recreation and fitness studies at $63,820 yearly, and education at $65,050 per year.
Wages for professor varied by rank. The lowest-paid had no rank and earned a mean $65,574 per year for the 2010-11 school year, according to the American Association of University Professors. Lecturers earned an average annual $53,556 and instructors received an average $47,143 yearly. The lowest rank of tenured positions belonged to assistant professors, who received an average annual $65,257. Above them were associate professors at an average $77,365 per year, topped by full professors, who earned $110,488. The average wage for all teachers in all types of institutions was $81,009 per year.
The highest type of degree awarded to students affected the salaries of postsecondary teachers, according to the American Association of University Professors. The highest wages were in doctoral institutions, which paid a mean $127,296 per year for full professors, and $92,468 annually for all teachers. Masters facilities were next with an annual average of $91,998 for professors, and an average $71,121 yearly for all teachers. Baccalaureate institutions ranked third with an average $87,835 per year for full professors and a mean $68,047 annually for all teachers. In two-year colleges with academic ranks, mean annual salaries for full professors were $73,869, and for all teachers, they were $60,353.
Postsecondary teachers in four-year institutions must typically have a doctoral degree in their field, although some institutions, such as community colleges, may hire those with master’s degrees or doctoral degree candidates. Tenure, which is available only in four-year facilities, can take up to seven years of moving up through the ranks. The number of tenure-track positions is declining because many institutions are relying on part-time faculty or term contracts to save money and achieve staffing flexibility.
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