Being a professor means teaching the students, evaluating their assignments and grades, etc. There are so many duties that they need to perform as a professor. It is a good job career and usually has a high salary potential. However one of the most common questions that comes to the mind of people is how college professors get paid. Thus, here we will help you to understand the process of how salaries are paid in the college.
- The college or university professors get paid through the mixture of salaries and the benefits that are given by the university.
- The following are the factors that affect the salary of the professor- Location, Experience, Education, etc.
- If you are hired at a fixed pay scale then you will not be able to negotiate whereas if it is flexible, then you can negotiate it.
However, you must read till the end so that you do not miss any important facts related to the process of the professors getting paid.
How do college professors get paid?
The college or university professors get paid through the mixture of salaries and the benefits that are given by the university. It means that as a professor you can perform different duties mentioned to you like teaching students, taking part in research, etc. In addition to that, you must also know that there are many professors who work outside the institution like giving special lectures or taking tuitions of the students. In such a scenario the professor may earn money outside the institution.
Further, there may be some educational institutions where you can earn bonuses or commissions along with your salary. It will depend upon the agreement between you and the professors. Additionally, you will see more programs like teaching awards or research stipends that you may earn on the basis of your performance. What will be the bonuses and how it will work will also depend upon the agreement between the institution and the union of the professor.
What are the factors that affect the salary of the professor?
Following are the factors that affect the salary of the professor-
- Location: The location where the institution is treated is very important when
- determining the salary of the professor. In some areas, you may find salaries higher and in some areas you may find salaries lower.
- Experience: If you have more experience then your salary will be higher than the other professors. However, if you are a fresher you may have to start with a much lower salary.
- Education: The basic requirement of becoming a professor is to have a master’s degree in a related subject. However, there are many institutions that want to have a professor who has completed a doctoral degree. If you have completed PhD you will automatically get a higher salary than those who have only a master’s degree.
- Subject you want to teach: Again if you are teaching a subject which is in high demand then the salary you get paid is better than that professor who is teaching the subjects which are not in demand.
- Market demand: As discussed above if you are a professor of a subject high in demand then you will be getting more salary. Also if you are a professor of such a subject which lacks professors then you will be getting a higher salary.
- Type of the institution: Generally there are two types of institutions – Public and Private. If you are working as a professor in a private institution then you will be getting a higher salary than those who are working in public institutions.
- Institutional budget: Institutional budget plays a crucial role in determining your salary as a professor. It is because if the institution is not having much then obviously they will not be able to pay you the expected salary.
Can the salary be negotiated?
Well, you must know one thing there are institutions that will have a fixed pay scale. It means that there are no chances of negotiating the salary with the institution. However, there are many institutions for flexibility when deciding the salary of the professor. In such a case you will be free to negotiate the salary. You must make sure that you should negotiate the salary keeping you and the institution in mind. Suppose your institution is offering you $30,000 annually and you were expecting $45,000, then try to negotiate around $40,000.
Also if you are a professor of a subject which is in great demand then there are high chances that negotiation will be working in your favour. Also sometimes your salary can be affected by the agreement between the institution and the union representing the professors. In such a case you must try to convince the union of professors and bring them to your side.
How often will you be getting paid?
Well, again it will depend upon the institution you are in and the payment method they follow. There are two types of cycles that are followed by the institution – 9 months and 12 months. In the 9-month system, you are paid over a period of 9 months. Such a system is usually taken up by the universities which have low budgets. On the other hand in the 12-month system, you will be paying the salary over the period of 12 months. This type of payment system is usually taken by institutions that have a high budget. In such an institution professors can also earn through getting into various researches.
Will you get health benefits and Retirement plans?
As a professor, you are usually eligible for health benefits and retirement plans. However, what benefits you are receiving will depend upon the institution itself. Most of the universities will take out their own list of benefits given to the professor. There will be details about the awards and bonuses you will be receiving. You may also get options for getting insurance for health, dental, vision, etc.
On the other hand for the retirement plan, you may get a defined pension plan or defined contribution plan. You may have to complete a specific number of hours or a specific number of days working in a particular institution. Even though you get a lot of benefits from the institution you may still have to check the benefit package.
Professors are usually paid because of the mixture of salaries and benefits. As a professor, you will be getting a salary for teaching the students and grading the students. In addition to that, there are a lot of benefits that you get as a professor including health benefits and other bonuses. There are many factors that will affect your salary of you as a professor like the location of the institution, the type of the institution, agreement between the institution and the union of the professors. However, if you are not hired on a fixed pay scale then you can negotiate with the institution.