NYU salary sucks, apparently

Interesting article in the Chronicle (subscription needed, at this point), indicates that the higher salaries of the top universities often come with much higher costs of living. For example:

The index of more than 300 places sets the national average at 100. Fittingly, Normal, Ill., the home of Illinois State University, is right at the cost-of-living average. Full professors there earn an average salary of $76,700. That may not sound so great. But consider this: The average salary for a full professor at New York University, a whopping $144,000, works out to just $70,000 once the high cost of living in Manhattan is figured in.

Of course, NYU didn’t hire me (bastards!) so, I am doing the stupidest thing ever, and reverse commuting: this year to bucolic Buffalo, where the average home is less than $100K (in NYC, the average apartment went for $1.3 million this year), and soon to equally suburban Connecticut. I’m dumb.

I am pretty happy with what I get paid, especially since it is–formally, at least–part time work. Yes, I could be making much more as another sort of professional, but I suspect that academics who want to be making more money do, through consulting and other forms of moonlighting. In other words, although the salary of a full professor continues to rise more slowly than inflation, I think that we are better off than we think we are, and far better off than we will be in ten years.

Comforting thought of the week.

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  1. Posted 4/27/2006 at 7:19 pm | Permalink

    That’s true. But if someone offered me lots of money to do what I love, I wouldn’t turn it down :). I don’t believe the money would ruin me. And I bet the banks holding my debt would agree.

  2. Posted 4/28/2006 at 6:57 am | Permalink

    true, money doesn’t ruin a person… excessive use of money in substitution or in pursuit of say virtuous things…. might though be vicious and viciousness can ruin a person.

  3. Posted 4/28/2006 at 10:20 am | Permalink

    It is however amazing to look around at salary changes from when you’re looking for your first job as an ABD to when you are back out on the market after you’ve been out for a few years. Some schools are definitely getting the bargain basement rate for their profs!

    I’ve been meaning to ask – where will you be next year? Buffalo is going to miss you – you’ve had some amazing students & theses/diss come out of that program thanks to your guidance.

    BTW, over xmas break I was hired by UGA & am moving soon.

    Good luck to you! :)

  4. Posted 5/1/2006 at 5:41 am | Permalink

    go write a book!

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