How they get paid:
* Direct Deposit: Most professors receive their salaries via direct deposit into their bank accounts. Payment schedules are usually bi-weekly, monthly, or sometimes on a semester/quarter basis.
* Payroll Department: Their university or college has a payroll department responsible for processing and distributing salaries.
Factors Determining Compensation:
* Rank: This is the most significant factor. Compensation increases substantially with rank:
* Instructor/Lecturer: Often entry-level positions with limited or no teaching experience, usually paid less.
* Assistant Professor: Entry-level tenure-track position. Salary increases gradually with experience and performance.
* Associate Professor: Achieved after several years as an Assistant Professor, usually with demonstrated research and teaching success. Significantly higher salary than an Assistant Professor.
* Professor (Full Professor): The highest rank, earned after many years and demonstrating significant contributions to the field through research, teaching, and service to the institution. Salary is at the top of the scale.
* Experience: Salary generally increases with years of experience, even within a given rank. Professors with more experience are typically paid more than those with less.
* Education: Holding a higher degree (e.g., a Ph.D. or other terminal degree in their field) commands a higher salary. Postdoctoral experience also influences the initial salary of professors, particularly in research-intensive institutions.
* Institution Type: Public universities generally pay less than private universities, particularly prestigious private institutions. Large research universities typically pay more than small liberal arts colleges. Location also plays a role; higher cost-of-living areas often have higher salaries to attract and retain faculty.
* Department: Demand for certain specialties influences salary. Departments in high-demand fields like engineering or computer science often pay more than departments in less-demanding fields.
* Research Funding: Professors who bring in significant research grants and external funding are often rewarded with higher salaries or supplemental compensation.
* Teaching Load: While not directly reflected in base salary, a heavier teaching load might indirectly influence compensation through higher summer stipends or other opportunities for additional income (e.g., teaching summer courses).
* Administrative Roles: Professors who take on administrative responsibilities (department chair, dean, etc.) receive significant salary increases in addition to their base salary.
* Negotiation: Salary negotiations play a role, especially for those at higher ranks or in high-demand fields. Successful negotiation can lead to a better starting salary and greater increases over time.
In summary, a professor's salary isn't simply determined by years worked. It's a complex interplay of factors that reward advanced degrees, experience, research productivity, teaching excellence, and the overall market demand for their expertise within their specific academic institution and field.