Sunday, March 26, 2023
HomeCampus LifeInflation Continues to Hinder Earning Power of Professors

Inflation Continues to Hinder Earning Power of Professors [Survey]

-

Over the past year, the salaries of full-time faculty members at U.S. colleges and universities have barely budged when adjusted for inflation, a new survey has found.

According to the 2018-19 Faculty Compensation Survey, the salaries for full-time faculty members saw a two percent raise when compared to the preceding year. However, with prices in the economy growing by 1.9 percent during the year, these salary raises appear meek.

The survey, conducted by the American Association of University Professors (AAUP), noted that the earning power of professors over the last three years has been eroded by inflation.

Nearly 380,000 faculty members from more than 950 colleges and universities across the country, including community colleges and small liberal arts colleges participated in the survey.

The survey found that a faculty member’s salary largely depends on their faculty rank and the type of institution they work for. Professors at private-independent doctoral universities receive nearly $196,000 on average, while an assistant professor at a religiously-affiliated college earns $61,000 on average.

The survey also found that the increase in overall average full-time salaries was higher at private colleges and universities in comparison to public institutions.

College presidents continue to enjoy some of the largest salaries, particularly at private-independent doctoral universities and even at public community colleges.

“Salaries for college and university presidents continue to outpace those for faculty, with presidents paid three to four times the salary of even the most senior faculty members at their institutions, on average,” the survey report states.

Furthermore, the survey pointed highlighted an increasing pay gap in the salaries given to female and male full-time faculty members. Over the last academic year, female faculty were paid 81.6 percent of the salaries of males. This has primarily been attributed to an unequal distribution of employment between men and women in terms of institution type and faculty rank.

MA Colleges With Best Women Representation in Leadership

You Might Also Like

Latest Posts

Avoid These Common FAFSA Mistakes and Ace Your Application

Watch out for these common FAFSA mistakes when completing your application — your diligence and attention to detail will make all the difference.

These Are the 15 Best Aeronautical Colleges in the US

Raring to assemble a plane or a rocket ship? Start your journey with the 15 best aeronautical colleges.

25 Best Computer Science Colleges to Get You Tech Success

All computer science colleges have their own strengths, it’s up to you to choose the best based on your preference.