College Professor Salary

"Dr. Johnson, one of my close friend's maternal uncle holds a BS degree, 3 master's degrees, a Ph.D. and has some excellent work experience of 20 years. He has been the head of the department for economics department for two consecutive times and now works as a visiting faculty in many colleges. The salary that he earns now is competent with most of the traditional jobs. As a new venture to get involved with students and earn better income, he has started to take online classes. Although, the salary nears US $ 51,000 (on an average), Dr. Johnson has been able to maintain sufficient income levels for the last 5 to 10 years."

The story of Dr. Johnson highlights the various ways a professor can increase his earning potential. While job satisfaction, job security and flexible working hours are some of the benefits professors enjoy, the college professor salaries are a matter of concern for all those who wish to become college professors.

Salary

Like many salary ranges for jobs depend on certain dominant factors, the salary varies significantly due to following factors that have been discussed below.

Working City
The cost of living varies drastically between cities. You can research and understand the trends of living cost in various cities. Depending on which city you are working as a professor, your salary will vary.

For instance, as per the latest reports of 2010, the pay scale of college professors working in New York is around US$ 75,000 to US$ 125,000 while those working in Houston can earn anywhere about US$ 50,000 to US$ 115,000. It's not just that being in a certain city can entitle you for such higher pays. Work experience and educational requirements are more contributing factors in deciding the salary.

Educational Qualifications
Teaching jobs demand highest levels of educational degrees and in depth knowledge of the subject. It is said that as a teacher or a professor learning never ends and it is so true. Salary negotiations in the initial years can be based on your academic qualifications.

The higher level of expertise you have, the more opportunities you will have to earn better pay packages. Research institutions hire college professors after some years of work experience if they have interest in that field. Once you have stepped in the teaching profession, it is up to you to take your career to new heights.

Bachelor's degree, post graduation degree, Ph.D., Doctoral research etc, are a must to increase the scope of earning and career opportunities. Not surprising, this may demand some sacrifices and hard work.

Work Experience
The more number of years you have spent as a college professor, better would be the chances of your earning a higher pay scale. This is because the college institutions look out for candidates who have some good work experience so that they don't have to explain to them the various intricacies of managing the college students. So, if you are a fresher, ensure that your credentials are good to get you employed somewhere and after you have worked for some years in a college, you too can switch your job for better growth opportunities or you can negotiate for higher professor salary.

The salary range for those who have a work experience of less than a year is in between US$ 40,000 to US$ 70,000. For those who have worked for nearly 5 - 10 years, the average salary ranges between US$ 48,000 to US$ 80,000. The salary can go as high as US$ 125,000 for those who have been in this profession for about 20 years.

As you can observe, the salary is definitely decent and with hard work and experience, one can be successful in this field. Being a college professor is a lucrative career option for all those who are striving to become college professors. So, if you have interest in this field, you should pursue it diligently. Wish you luck!