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Unlimited money? In academia? Umm... no. Even for the very best people, at the very best places, salaries tend to top off below $150K. In places with high cost

Unlimited money? In academia? Umm... no. Even for the very best people, at the very best places, salaries tend to top off below $150K. In places with high costs of living, this isn't a cushy life.

tokenadult 13y ago
Famous academics make a lot of money besides their salaries. And there was a Hacker News thread recently that said that Terence Tao's salary (which I guess is public information, because his salary comes from a public university) was above $400,000 a year. (I imagine he has the flexibility to travel to conferences that he desires, as well, among other nonsalary benefits.) Medical doctors who are professors of medicine also have total compensation packages well north of $150K. AFTER EDIT: Of course, I was specifically disagreeing with the specific dollar figure ("$150K") in the comment immediately above mine. The grandparent comment, referring to "unlimited money," is of course using the literary device of hyperbole, which academics in the disciplines I studied in my higher education know better than to take literally. An academic who writes a widely adopted textbook can make serious money in quite a few different disciplines, and academic employment in general offers more opportunity than most forms of employment to take on side jobs.
- ItendToDisagree 13y ago
  When did 400K or even "well north of 150K" become "unlimited money"? Unless you're Craig Venter (who isn't an 'academic') or some other incredible outlier there is nothing like Rockstar/Jayz wealth out there. You have to sell/patent a highly sought after product/process to get anywhere near that level. Edit: If you're measuring or living off of a salary in general, without vast outside income from investments or the like, you arn't even close to "unlimited money".
  - noillusions 13y ago
    I've been an assistant professor for 2 years now (finished PhD on Jan 2012), my salary is US$110K a year. This year I decided to secretly do some consulting/contracting work on the side (for various reasons). It was a really difficult year as I worked like a dog but I was able to make an additional US$175K in income. It's strange, I've felt more 'fulfilled' this year than simply spending that time on writing research publications. I feel like I've actually helped people and worked on stuff that matters... Academia is broken IMHO: Too much focus on volume instead of quality, MOOCs and online courses are breaking teaching, most students don't care about the content, 50% of university staff are administrators. I plan to make the most of it though (while it lasts).
    - kaitai 13y ago
      I would be interested in hearing about your consulting on the side. How did you manage that and the requirements of your job? Is it in an area close to your research? What are the IP and commercialization ramifications, if any, with respect to your university? (Some universities seem to have rules about outside consulting.)
- impendia 13y ago
  Terry Tao is exceptional, perhaps the best known mathematician. I speculate (although I can't really know, most salaries are private) that there are less than 100 academic mathematicians making > 200K. This, in a field that's famous for attracting brilliant, hard-working people.
jrs99 13y ago
after you're a professor, you can reach the top, the president of a university. look at john hennessy.

Unlimited money? In academia? Umm... no. Even for the very best people, at the very best places, salaries tend to top off below $150K. In places with high costs of living, this isn't a cushy life.

tokenadult 13y ago

Famous academics make a lot of money besides their salaries. And there was a Hacker News thread recently that said that Terence Tao's salary (which I guess is public information, because his salary comes from a public university) was above $400,000 a year. (I imagine he has the flexibility to travel to conferences that he desires, as well, among other nonsalary benefits.) Medical doctors who are professors of medicine also have total compensation packages well north of $150K. AFTER EDIT: Of course, I was specifically disagreeing with the specific dollar figure ("$150K") in the comment immediately above mine. The grandparent comment, referring to "unlimited money," is of course using the literary device of hyperbole, which academics in the disciplines I studied in my higher education know better than to take literally. An academic who writes a widely adopted textbook can make serious money in quite a few different disciplines, and academic employment in general offers more opportunity than most forms of employment to take on side jobs.

ItendToDisagree 13y ago
When did 400K or even "well north of 150K" become "unlimited money"? Unless you're Craig Venter (who isn't an 'academic') or some other incredible outlier there is nothing like Rockstar/Jayz wealth out there. You have to sell/patent a highly sought after product/process to get anywhere near that level. Edit: If you're measuring or living off of a salary in general, without vast outside income from investments or the like, you arn't even close to "unlimited money".
- noillusions 13y ago
  I've been an assistant professor for 2 years now (finished PhD on Jan 2012), my salary is US$110K a year. This year I decided to secretly do some consulting/contracting work on the side (for various reasons). It was a really difficult year as I worked like a dog but I was able to make an additional US$175K in income. It's strange, I've felt more 'fulfilled' this year than simply spending that time on writing research publications. I feel like I've actually helped people and worked on stuff that matters... Academia is broken IMHO: Too much focus on volume instead of quality, MOOCs and online courses are breaking teaching, most students don't care about the content, 50% of university staff are administrators. I plan to make the most of it though (while it lasts).
  - kaitai 13y ago
    I would be interested in hearing about your consulting on the side. How did you manage that and the requirements of your job? Is it in an area close to your research? What are the IP and commercialization ramifications, if any, with respect to your university? (Some universities seem to have rules about outside consulting.)
impendia 13y ago
Terry Tao is exceptional, perhaps the best known mathematician. I speculate (although I can't really know, most salaries are private) that there are less than 100 academic mathematicians making > 200K. This, in a field that's famous for attracting brilliant, hard-working people.

jrs99 13y ago

after you're a professor, you can reach the top, the president of a university. look at john hennessy.