On the supposed professor "overcompensation": I know a couple of well-respected professors' kids who had to turn down their first-choice schools because they co

On the supposed professor "overcompensation": I know a couple of well-respected professors' kids who had to turn down their first-choice schools because they couldn't afford to go. So even these supposedly overpaid professors can't afford these outlandish tuitions. At any rate, professor pay has never been going up at 3-5 times the rate of inflation, and the viability of the career track has been crumbling. Overall teaching pay has been going down relative to inflation, and quite possibly in absolute terms.