How Much Do College Professors Make (Average Salary)

According to recent American Association of University Professors data, the average full-time college professor made $112,139 in the 2023-24 academic year.

However, professors’ salaries worldwide are complex, with earnings varying dramatically based on multiple factors. While some professors struggle to make ends meet as adjuncts, others at prestigious institutions can earn well into six figures. 

Read on and find out the actual numbers and how much College professors make. 

Professors Median Salaries By Position Level

The academic hierarchy significantly impacts earning potential, with full professors (a senior academic rank at a college or university) earning substantially more than their junior colleagues. 

Here’s the average Professor salary by job title as per AAUP‘s 2023-24 academic year data:

• Full Professor: $155,056
• Associate Professor: $106,216
• Assistant Professor: $92,094
• Instructor: $69,307
• Lecturer: $75,841

Average Professor Salary By Institution Type

The type of institution where a professor teaches can create substantial differences in earning potential, with private universities generally offering higher compensation than public or religiously affiliated institutions.

Data source: American Association of University Professors, 2023-24 academic year survey of nearly 870 institutions.

Average Professor Salary By Countries 

International academic salaries reveal significant variations across developed nations, with Swiss professors typically earning the highest in Europe while French professors tend to earn less among Western European nations.

Here are the academic salaries in their original currencies, with monthly or annual specifications as reported by each country:

Data Academic Positions.

Additional Context:

Tax rates significantly affect take-home pay. Here are the tax rates of a few countries:

• Belgium: 45-52%
• Denmark: 40-50%
• Norway: ~40%
• Finland: 25-32%
• Netherlands: ~40%
• Sweden: ~45%

Note: Salary ranges may vary based on institution type, location within the country, and experience level.

Average Professor Salary In The US (Top 10 States)

Location plays a crucial role in determining professor salaries, with coastal states and areas with higher costs of living generally offering better compensation.

Data from Indeed’s College Professors salary database

How Much Do Ivy League Professors Make?

Ivy League institutions typically offer some of the highest faculty salaries in academia. While most salaries remain confidential, here are some known facts:

• Most Ivy League full professors earn between $175,000 – $250,000 base salary.
• At Harvard, top professors like computer science professor David J. Malan earned $1.5 million in 2021.
• Cornell University has several professors earning over $1 million annually, with some clinical professors earning exceptional compensation (like Zev Rosenwaks, who earned $8.8 million in 2021).

How Much Does A College Professor Make With A PhD?

Most full-time professor positions require a PhD, and their earnings vary by rank.

Here are numbers as per the American Association of University Professors (AAUP) 2023-24 data:

• Entry-level Assistant Professor with PhD earns $92,094
• Mid-career Associate Professor with PhD earns $106,216
• Senior Full Professor with PhD earns $155,056

At doctoral institutions specifically, here is how much professors make With A PhD:

• Private universities: Full professors average $227,163
• Public universities: Full professors average $145,112

Highest-paid College Professors

As mentioned earlier, the Ivy League and PhD holding professors bag the highest-paid college professors title. Here are a few details of the Highest-paid College Professors sourced from the Institutional Tax Filings (as reported in the provided documents from 2021)

1. Highest-paid College Professors at  Cornell University:

Zev Rosenwaks: $8.8 million (Earned nearly eight times the university president’s salary)

Hey-Joo Kang: Over $3 million

Kieyhun Daniel Riew: Over $3 million

Rony Elias: Over $3 million

(All of the above-mentioned professors are Clinical professors at Cornell Medical School who are also working doctors in various fields)

2. The highest-paid College Professor at Harvard University is

David J. Malan (Computer Science professor), who earns a salary of $1.5 million.

3. Highest-Paid College Professor At the University Of Southern California:

Laura Mosqueda (Family Medicine): Over $1 million

Charles Zukoski (Chemical Engineering): Over $1 million

Factors That Affect College Professor Salaries

I want to warn the readers that though the numbers seem significant, most of the professors cannot achieve this. Several key factors determine a professor’s earning potential:

1. Institution Type

• Private universities typically pay 20-30% more than public institutions
• Research universities generally offer higher salaries than teaching-focused colleges
• Prestigious institutions often provide better compensation packages

2. Field of Expertise

• STEM and business professors typically earn more than humanities professors
• Medical school and law school professors often command higher salaries
• High-demand fields can lead to better compensation

3. Experience and Tenure

• Entry-level assistant professors start at lower salaries
• Achieving tenure typically brings a significant salary increase
• Years of experience correlate strongly with higher earnings
• Research productivity and grant funding can boost earnings

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Conclusion: Most Full Professors Earn An Average Salary Of $112,139 Annually In 2023-24

Professor salaries in the U.S. show remarkable variation, with full professors averaging $155,056 while adjuncts often earn below $26,500 annually (AAUP 2023-24). 

Private university professors earn up to $196,353 compared to $145,112 at public institutions. Elite institutions showcase exceptional cases, like Cornell’s $8.8 million compensation for top clinical professors. This proves that institution type creates significant disparities.

Geographic location also impacts earnings substantially, with Hawaii leading at $109,872 and California lagging at $73,483.

Despite rising tuition costs (46% over a decade), professor salaries have grown only 0.6% when adjusted for inflation. 

The profession maintains an 11% growth outlook through 2028, though the shift toward non-tenure positions continues, with over 66% of faculty now off the tenure track.

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