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Nords · 07-28-2006, 08:42 PM

An article from Pacific Business News says that a $1M donation to UH will endow two permanent professorships.

Yet drawing 5%, the IRS charitable foundation guidelines, from $1M is only $50K/year. It's hard to believe that it'll support one professor's salary, let alone two. The article claims that UH's Manoa College of Business is ranked among the nation's top 20 graduate schools for international business by U.S. News World Report, so presumably this isn't a diploma mill scam.

Am I missing something about endowments, or are professors paid a lot less than I think?

LOL! · 07-28-2006, 09:18 PM

I used to hold an endowed chair. The money did not pay my salary, but I did get to put the fact of the endowment on my CV. The money was more a slush fund to be used for post-docs, knick-knacks, paddy-whacks. I still had to write and get grants for my salary, the salaries of my subordinates, and the stuff we consumed.

So the endowment can be used to attract faculty who can get the rest of own money. It's a safety net.

OTOH, after being in Hawaii for the past 9 days and hearing about UH, I'd guess that professors at UH go there for the surfing and not for the endowment, prestige or work.

Scrooge · 07-28-2006, 09:23 PM

Quote:

Originally Posted by LOL!

I used to hold an endowed chair.* The money did not pay my salary, but I did get to put the fact of the endowment on my CV.* *The money was more a slush fund to be used for post-docs, knick-knacks, paddy-whacks.* I still had to write and get grants for my salary, the salaries of my subordinates, and the stuff we consumed.

Spot checking a few endowed professorships on the Web, it looks like in some cases the total cost can be less $10K, presumably at more obscure schools.

education · 07-28-2006, 10:30 PM

Hi Nords--

Yes, professors are paid a lot less than you think. But so are public and private school teachers.

The professorate has a rank system similar to the military:

It can begin with a low paying Instructorship; Assistant Professor; Associate Professor and, finally, a Full Professor. With each advance in rank comes an increase in pay. Most teaching professors are on a 9 month contract and with luck, they get to teach in the summer as well.

Quite a few states still have tenure protection for independent thinking professors--and due process must be followed before they can be fired.

It can be a nice life--but it can also be very demanding and stressful with high expectations to publish, do research and..oh yes, teach!!!! (Hey, what can I say? I'm an absent minded professor and I lose my train of thought)

Professor

Martha · 07-29-2006, 07:54 AM

I just read an ad for an assistant professor at the University of Minnesota for a person to teach in their paralegal program. Salary was $50,000.

justin · 07-29-2006, 07:56 AM

I know a lot of the engineering profs at the local state College of Engineering get low six figures for the 30-somethings and 40-somethings with 10+ years experience. Then they occasionally consult on the side for $130+/hr. But they work hard and frequently long hours at their research tasks. Oh yeah, and teach too.

I know the "visiting lecturers" get paid less than high school teachers (at least in the humanities). One of my "visiting lecturer" profs told me she got poached to go to the local high school and teach for A LOT more money.

saluki9 · 07-29-2006, 10:26 AM

I've been in touch with a former professor who I've kept in touch with since college. I though for a split second about going for a finance PhD

I attended a 4th tier state school and he said that with a PhD in Finance you will start at around $100K - $120K for 9 months work. Accounting pays a little more because of the shortage

Liberal arts can be ONE THIRD OF THAT!!

VoyT · 07-29-2006, 05:43 PM

A while back, one of the state universities was offering an adjunct position in my field .. one class, met 3 times a week, for a semester. Paid about $2,000.

mikew · 07-29-2006, 08:33 PM

For the osaka area, here are some private university averages from 1998. Public universities would be about a third less.

35 year old Associate Professors, married with two children.
School Average $101,504

50 year old Professors, married with two children
School Average $126,470

Adjuncts get about $100 per 1.5hr class.

http://www.debito.org/PALEautumn99.html#salaryscales

brewer12345 · 07-30-2006, 07:45 AM

Sometimes the side jobs can be pretty lucrative, though. My finance and accounting profs at NYU's MBA program have to beat off consulting offers with a stick. I know one prof was getting $600 an hour for his gigs.

Spanky · 07-30-2006, 08:00 AM

$50K for a professor in Business Admin at a major university seems low. A full professor in Business Adminstration or Enginerring can easily command a 6-figure salary at a major university plus consulting fee.

LOL! · 07-30-2006, 09:13 AM

Assistant Professors make $40-80K* Associate Profs somewhat more, $60-90K.* Full Professors have hit the big time with salaries above $100K pretty typical.

http://www2.acs.ncsu.edu/upa/peers/c...rs/profsal.htm
More tables available here: http://www2.acs.ncsu.edu/UPA/peers/c...eers/frame.htm

I think the averages are pulled down by folks teaching some of the humanities like languages, sociology, philosophy, etc, where research grants have less impact.* The salaries are higher for engineering and science professors.

Spanky · 07-30-2006, 09:48 AM

Quote:

Originally Posted by LOL!

The salaries are higher for engineering and science professors.

So do medicine, pharmacy, dentistry, law, math, computer science, Finance.

lazygood4nothinbum · 07-30-2006, 01:57 PM

palm beach post july 29, 2006 article http://tinyurl.com/rssbf

Quote:

While public school teachers, firefighters and police officers have been the focus of concern in finding affordable housing in South Florida, universities are beginning to worry about recruiting experienced professors when the average faculty salary last year was $62,582.