…the numbers reflect is a situation I’ve heard is
fairly common: in the College of Business & Economics, the 26 full
professors’ listed salaries have a median of $86,155; the 15 assistant
professors’ listed salaries have a median of $86,802. One of the
assistant professors has a reported salary higher than any of the full
professors. Another assistant professor has a reported salary higher
than all but one of the full professors.
That’s for the University of Wisconsin-Whitewater; it’s not true for the University of Michigan or for that matter Harvard.
Is he comparing economists to economists, or Michigan economists with the entire Business School at Whitewater? At first glance it appears that the inversion at Whitewater is not caused by the economists. Though it does look like the UW-W associate professors of economics are being overtaken by the assistants. Ah, the cost of golden hand-cuffs.
Can someone clarify the term “Ramsey Rules”? Is the idea that Assistant Professors are in a more liquid labor market so the school has to make them happy with a highly competitive salary? Whereas a school is compensating a full professor partly with “lifetime security”, which substitutes for a significant chunk of their yearly salary?
In my young career I have already seen a couple of full professors deal with this situation by going on the market and getting offers. The only catch is you have to a) be capable of getting another offer and b) be willing to leave if your school is unwilling to match (or at least come close).
Yes, this is standard industry practice in business. Contractors make much more than permanent employees, even after factoring in having to self-fund health insurance premia, not having paid vacation/holidays, etc.
I finally ‘converted’ because I wanted more stability and a corporate title so that I could advance in the corporate ranks. I think I made the wrong decision.
From the same website, here is an off topic post about some AP History answers given by test takers.
My eyes teared up so much from laughing, your mileage may vary.
My now-12th grader was told by an experienced college admission person that if she had to choose it was more important to take a 4th year of a foreign language rather than another AP course.
I’m a temp worker and I’ve made less than the permanent employees at both places I worked. But, I’ve only been out of college for a year, so perhaps my experience is tainted by that and by my industry (financial services/ investment banking). I greatly want to “go permanent” because I know that the temp agency takes quite a bit of my “pay.”
In regard to the last comment, if the education professors make only 10K less than the finance professors then the school is relatively good at education and relatively bad at finance.
Jeff
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