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What can Labor Economics Tell us about the Earnings and Employment Prospects for Faculty?

  • Robert K. Toutkoushian
Part of the Higher Education: Handbook of Theory and Research book series (HATR, volume 18)

Abstract

The many individuals who make up the faculty in the American higher education system are extremely diverse in their backgrounds, professional expertise, interests, and motivations for becoming faculty members. They do, however, share the fact that each of them is employed by an institution of higher education and has a personal incentive to learn about the various aspects of their conditions of employment. Accordingly, the academy has long been interested in understanding the economic status of the academic profession and how it is changing. The American Association of University Professors (AAUP), for example, regularly collects data from colleges and universities on faculty compensation and reports their findings to their membership. The latest report (American Association of University Professors, 2001) identified the following trends and changes in faculty compensation:

“For the fourth consecutive year, faculty salary levels increased after adjusting for inflation...” “The average faculty member earns 26 percent ($15,299) less than the average highly-educated professional.” “Salary disparities among disciplines are also accelerating and reflect the importance of external markets relative to internal institutional constraints and purely academic markets.”

Keywords

Labor Market Human Capital Faculty Member Labor Economic Employment Prospect 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Authors and Affiliations

  • Robert K. Toutkoushian
    • 1
  1. 1.University System of New HampshireUSA

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