Marking the largest increase in over 10 years, faculty salaries at U.S. universities and colleges increased by 3.8 percent in the current academic year, according to a report released Friday by the Washington, D.C.-based Association of University Professors.
The report found the current average salary of a professor to be $62,895 and also predicted the increase would be less next year as a reflection of last year's economic downturn, which worsened after Sept. 11.
Salaries for professors at the most competitive research were the highest, according to the report, in which Harvard professors were the highest paid at an average of $145,000 of any university professors.
Assistant professors received the biggest raises of 4.8 percent. Full professors rose 4.2 percent, while associate professors rose 3.8 percent, the study said.
The report also showed that colleges drawing their student populations from their geographic regions were paid far less than other university faculty.
Professors still make less than other professionals requiring similar educational background, according to the report. For example, compared to professors, doctors earn 70 percent more, lawyers about 50 percent more, and engineers about 30 percent more.
