As one of the most “financially fit” colleges, it’s only appropriate Harvard’s professors are among the highest paid.
The American Association of University Professors released the results of its 2013 Faculty Salary Survey, which the Chronicle of Higher Education so kindly created into an interactive table. Nearly 1,200 faculty members are represented in the data, all of whom are banking rather hefty paychecks.
The news isn’t surprising. After all, Harvard’s endowment hit the $32 billion mark in September 2011, only reinforcing the university’s hold on having the largest endowment of any school in the world. The professors should be seeing a pretty penny.
Between the top five highest-paying universities, the average full professor is making $200,000 or more. At Harvard, full professors are making just above that with salaries around $203,000. Associate professors, assistant professors and instructors shouldn’t be complaining either, making $118,900, $113,400 and $58,8000, respectively.
Columbia full professors have the biggest paychecks, which ring in at $212,300. Stanford and the University of Chicago are the only other two institutions standing in Harvard’s way of having the highest paid professors.
MIT was the next local school to nab a spot on the list, coming in at No. 11. Full professors are earning roughly $178,000, while associate professors, assistant professors and instructors are banking $122,600, $106,300 and $60,600, respectively. And Babson isn’t too far behind, taking the 16th spot. There, full professors are earning $173,100.
For a look at how the rest of the professors in Massachusetts are making out, here’s a look at the top 10 highest paying schools. For the full list, click here.