Salaries Finance Professors

average salaries professors rank james

Here’s a breakdown of finance professor salaries in the US, formatted for HTML:

Finance professor salaries in the United States vary considerably based on several factors, including experience, rank, institution type, location, and research output. Generally, professors at research-intensive universities (R1) earn more than those at teaching-focused institutions.

Entry-Level (Assistant Professor): New PhD graduates entering academia as assistant professors can expect salaries ranging from $150,000 to $250,000 per year at top-tier universities. Public universities might offer slightly lower starting salaries, typically between $120,000 and $180,000, but this can depend on the state’s cost of living and funding for higher education.

Associate Professor: After achieving tenure and promotion to Associate Professor, salaries typically increase to between $180,000 and $350,000. This reflects increased experience, research contributions, and service to the university. Compensation can also be influenced by performance evaluations and grant funding secured.

Full Professor: Full Professors, the highest rank in academia, command the highest salaries. Depending on the factors mentioned above, their earnings can range from $250,000 to well over $500,000 per year. Highly sought-after professors with endowed chairs or administrative responsibilities (e.g., department chair, dean) can earn significantly more.

Institution Type: Private universities generally pay higher salaries than public universities, particularly those with large endowments and successful fundraising efforts. Business schools within universities often provide higher compensation packages compared to other academic departments, reflecting the higher market value of finance expertise.

Location: Cost of living also impacts salaries. Professors in major metropolitan areas like New York City, Boston, and San Francisco often receive higher compensation to offset the higher expenses. However, lower cost-of-living areas may offer a more favorable overall financial situation even with a lower salary.

Research and Publications: Finance is a research-driven field. Professors who consistently publish in top-tier academic journals (e.g., Journal of Finance, Review of Financial Studies, Journal of Financial Economics) and secure research grants are highly valued and can command higher salaries. Research funding can also provide additional summer salary or research support.

Additional Compensation: In addition to base salary, finance professors may receive additional compensation through consulting work, speaking engagements, and summer teaching. Some universities also offer performance-based bonuses based on research output, teaching evaluations, and service contributions.

It’s crucial to note that these are general ranges, and actual salaries can vary. Websites like Glassdoor and specialized academic salary surveys can provide more specific data, but remember that reported figures are often self-reported and may not reflect the entire picture.

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