Expert: Dr. Joseph de Beauchamp - 11/21/2006

Question
First off I'd like to ask, what are you a doctor of? I didn't know there was a PH.D. program for business in general. I know there is for economics, but I wasn't sure if there would be one for business? If so it is nice to know that there is something above an MBA. And secondly to my main question. I was wondering where one could look up the average salaries of college instructors? I read a list showing that being a college professor is within the top 8 or so best jobs to have. I ask you because being a business person you might know more about the money aspect of thing, and respectively I would expect business professors would make the higher figures? I also would be curious to know how much is made by other professors namely math, english, psychology, and biology to give a good range. Any input you might have would be helpful. Thanks.

Answer
I have a Ph.D. in economics and one in Finance. I am working on my third, and final, in Educational Leadership. Professors make from $60K to $80K. Many schools will pay for adjuncts, which is part time teaching. You can also make $3k per class you construct for online or regular classroom. You make more with writing up a textbook, and if this is sold, you can make a million or more. Finance and accounting professors are the toughest to find, and in high demand. Psychology and biology are somewhat average to find those types. I have a background in psychology and biology and teach those classes also.

Make sure you get a degree from a school other than you wish to teach, since most schools have a 5% limit on hiring the students graduating to teach in the same school.

Dr. Joseph de Beauchamp