The landscape of higher education is witnessing a gradual recovery in faculty salaries, as reported by institutions involved in an annual survey conducted by a prominent academic association. This positive trend marks the second consecutive year of salary increases for full-time faculty members, adjusted for inflation, indicating a hopeful shift in the financial well-being of educators.
Continuing faculty, defined as those who have maintained their positions at the same institution for at least two years, experienced a notable increase in their average salaries. From the fall of 2022 to the fall of 2023, their real earnings rose by 1.5 percent, followed by an additional 1.8 percent increase from fall 2023 to the previous fall. This data, released in a recent report, highlights the ongoing efforts to enhance compensation for educators.
However, despite these gains, the report reveals that the average salary for both continuing and newly hired full-time faculty in fall 2024 has not fully recovered from the declines experienced over the past three years. The financial impact of historic inflation has left faculty pay still lagging behind the peak levels reached in the fall of 2019.
According to the findings, real average salaries remain approximately 6.2 percent lower than they were in the fall of 2019, underscoring the lingering effects of the COVID-19 pandemic on the academic workforce. The report also points to significant financial challenges faced by educational institutions, which may limit their ability to offer competitive salaries to faculty members.
As the report notes, there is a concerning trend of college closures, with projections indicating a substantial decline in the college-age population in certain states over the coming years. This demographic shift, coupled with fluctuating government funding for higher education, poses a risk to many institutions, potentially impacting their financial stability and faculty compensation.
Recent policy changes have further complicated the funding landscape for both public and private institutions, with anticipated cuts to federal grants and reduced support for indirect costs. Institutions that have relied heavily on international student enrollment for tuition revenue may also face significant financial challenges, making it increasingly difficult to ensure economic security for faculty members.
The survey revealed a wide range of salaries across participating institutions, with full-time faculty earning an average of approximately $62,000 at primarily associate degree-granting colleges, while full professors at doctoral universities earned an average of $181,000.
Gender pay disparities continue to be a pressing issue within academia, as female full-time faculty earn an average of $106,000, which is only 83 percent of their male counterparts’ average salary of $127,000. Interestingly, this salary equity ratio mirrors that of the broader U.S. economy, as reported by the Bureau of Labor Statistics. However, the survey does not provide a breakdown of salaries by race or ethnicity.
Glenn Colby, a senior researcher at the association, indicated that the data for the 2024–25 academic year is still preliminary, with final results expected to be released next month. The survey gathered information from over 800 institutions, encompassing approximately 370,000 full-time and 90,000 part-time faculty members. Additionally, more than 500 colleges and universities reported on the compensation of their senior administrators.
Participation rates were notably high among doctoral and research institutions, while community colleges exhibited lower participation levels. Colby emphasized the challenges faced by community colleges in completing the survey, often due to limited staffing and resources.
Only 336 institutions provided data on part-time faculty pay, which averaged $4,000 per three-credit course section for the 2023–24 academic year. The report highlights the ongoing issue of low compensation for part-time faculty, which remains a significant concern within the academic community.