The American Association of University Professors is expected to release early next month its annual list of average salaries paid to faculty at more than 1,200 public and private universities across the nation.
To prepare for that shock and awe, here is a snippet from last year’s list, which shows that a gig at an Ivy League school is lucrative, to say the least.
Below is the average full-time salary at Ivy League schools for 2011-12, according to the survey.
Harvard: $198,400
Columbia: $197,800
Princeton: $193,800
UPenn: $181,600
Yale: $180,400
Cornell: $161,800
Dartmouth: $162,100
Brown: $156,700
Underscoring that, at least 340 colleges across the nation pay their full-time professors an average of $100,000 or more, the survey found.
Interesting stats when you consider technology trends now driving the Brave New World of higher education, with free access to a college-level education, including many Ivy League classes, online.
We’ve all heard plenty about the “college bubble” in recent years. Student loan debt is at an all-time high—an average of more than $23,000 per graduate by some counts—and tuition costs continue to rise at a rate far outpacing inflation, as they have for decades. Credential inflation is devaluing the college degree, making graduate degrees, and the greater debt required to pay for them, increasingly necessary for many people to maintain the standard of living they experienced growing up in their parents’ homes. Students are defaulting on their loans at an unprecedented rate, too …
… The most important part of the college bubble story—the one we will soon be hearing much more about—concerns the impending financial collapse of numerous private colleges and universities and the likely shrinkage of many public ones. And when that bubble bursts, it will end a system of higher education that, for all of its history, has been steeped in a culture of exclusivity. Then we’ll see the birth of something entirely new as we accept one central and unavoidable fact: The college classroom is about to go virtual.
Hope those Ivy League professors are saving all that cash for the inevitable.
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