Open Side Menu Go to the Top
Register
Rich (Now with the Upper Middle Class) Rich (Now with the Upper Middle Class)

07-12-2014 , 08:02 PM
Quote:
Originally Posted by schu_22
citation needed.
http://www.aaup.org/appendices-2013-...tus-profession

State schools seem to be 100~150 or so and the Ivys/Stanford type of schools add another 50 on top of that. I'm only eyeballing because this PDF **** won't let me import into Excel to sort.

It's not a random distribution either. Men and certain majors have much higher averages. This suggests there is probably over 100 professors making over 500k in salary alone.

And I am 100% sure there are over 400 professors making over 500k all things considered. The business schools and law schools alone are packed with "full time" professors with other very lucrative full time practices.

Last edited by grizy; 07-12-2014 at 08:09 PM.
07-12-2014 , 08:06 PM
Quote:
Originally Posted by dessin d'enfant
Its not that far off. See here for Michigan, if you look only for people with titles of professor quite alot make over 200k fte.
0 professors over 400k

The 200k median/average is most certainly wrong.
07-12-2014 , 08:08 PM
Yeah...median much closer to 100K than 200K
07-12-2014 , 08:09 PM
and lol @ specifically citing Michigan, yes, one of the largest and most prestigious universities in the country has quite a few professors who are compensated very well.
07-12-2014 , 08:10 PM
Quote:
Originally Posted by ikestoys
0 professors over 400k

The 200k median/average is most certainly wrong.
I see 5. The filters don't seem to work well. Just sort by fte. Its kinda misleading though because some people make like 900k but only work 6% of the time.
07-12-2014 , 08:10 PM
There's 20 other institutions in the US that are of similar or greater prestige and 40 more that aren't terribly far behind
07-12-2014 , 08:11 PM
Quote:
Originally Posted by schu_22
and lol @ specifically citing Michigan, yes, one of the largest and most prestigious universities in the country has quite a few professors who are compensated very well.
He said tier one, I would think Michigan is close to the median tier 1 university.
07-12-2014 , 08:12 PM
Michigan is high tier 2 AFAIK
07-12-2014 , 08:15 PM
Quote:
Originally Posted by dessin d'enfant
I see 5. The filters don't seem to work well. Just sort by fte. Its kinda misleading though because some people make like 900k but only work 6% of the time.
There's zero professors in 2012 who made more than 400k. There are professors who made more on a Full Time Equivalent basis, but their fractions are so low they didn't make close to that amount. Highest is 392k for a neurosurg professor.
07-12-2014 , 08:16 PM
Michigan is close to, if not tier 1.
07-12-2014 , 08:17 PM
Guys, remember, I am not disputing 500k+ professors are in the minority. I qualified with "full-time" and "first-tier" for pretty obvious reasons. I am fully cognizant of the fact I'm talking about the highest paid professors.

I was loling at the notion that there are only 10 professors making 500k plus per hue's post/link.

Last edited by grizy; 07-12-2014 at 08:24 PM.
07-12-2014 , 08:17 PM
Quote:
Originally Posted by ikestoys
There's zero professors in 2012 who made more than 400k. There are professors who made more on a Full Time Equivalent basis, but their fractions are so low they didn't make close to that amount. Highest is 392k for a neurosurg professor.
Also ~650 making over 200k.
07-12-2014 , 08:18 PM
huzzah finally was able to select 2013, there's 2
07-12-2014 , 08:40 PM
Quote:
Originally Posted by grizy
http://www.aaup.org/appendices-2013-...tus-profession

State schools seem to be 100~150 or so and the Ivys/Stanford type of schools add another 50 on top of that. I'm only eyeballing because this PDF **** won't let me import into Excel to sort.

It's not a random distribution either. Men and certain majors have much higher averages. This suggests there is probably over 100 professors making over 500k in salary alone.

And I am 100% sure there are over 400 professors making over 500k all things considered. The business schools and law schools alone are packed with "full time" professors with other very lucrative full time practices.
Chronicle of Higher Ed provides a sortable version of the AAUP survey data although I think it's behind a paywall.

Highest avg salary for Full professors is Columbia at $212,300. Tabor College in Kansas was lowest at $44,200.

I doubt there are 400 profs making over $500k as most are probably paid near the average with a few outliers.
07-12-2014 , 08:47 PM
Professor, what's another name for pirate treasure? I say it's booty. That's what it is.
07-12-2014 , 08:54 PM
Quote:
Originally Posted by schu_22
120K is certainly upper-middle class, wtf
I'm a little late to the thread here but it really depends on the point in their life they are at.

A couple, each earning around 60k-70k per year during a 10 year peak from 50-60, but earning significantly less during the earlier parts of their career are still going to be middle class. For example, two high school teachers will meet this criteria and I don't think most people consider a family like that upper middle class.

A couple earning 120k combined in their early 30s are upper middle class, but if they have 2 kids in day care they'll lead a middle class lifestyle and still struggle to make ends meet for a few years and consequently resent that designation. The important point is that this expense is only for a few years and their earnings should rise.

Note this is in my area, Pittsburgh, where 200k can still buy a decent 3 bedroom house in a nice school district.
07-12-2014 , 09:27 PM
Quote:
Originally Posted by BadBoyBenny
I'm a little late to the thread here but it really depends on the point in their life they are at.

A couple, each earning around 60k-70k per year during a 10 year peak from 50-60, but earning significantly less during the earlier parts of their career are still going to be middle class. For example, two high school teachers will meet this criteria and I don't think most people consider a family like that upper middle class.

A couple earning 120k combined in their early 30s are upper middle class, but if they have 2 kids in day care they'll lead a middle class lifestyle and still struggle to make ends meet for a few years and consequently resent that designation. The important point is that this expense is only for a few years and their earnings should rise.

Note this is in my area, Pittsburgh, where 200k can still buy a decent 3 bedroom house in a nice school district.
Yeah your post brings up all the variables that makes using a specific number to define "upper middle class" pointless. A family with 2 kids, living in Pittsburgh, might live a solid UMC lifestyle on $120k. A family in NYC, with 5 kids, massive student loan debt, and an uninsured elderly parent who needs daily home nursing care that they are paying for, etc., might not.

But in general I don't think 2 public school teachers (for ex.) living in NYC are upper-middle class just because their combined salaries might reach $120k. Especially a younger family about to have kids... in this case a family where one partner earns $120k and the other doesn't work is probably wealthier than one where each partner makes $60k, simply because having children won't impact their finances nearly as much.

Edit: On thinking about I suppose you could make the argument that the ability to HAVE 5 kids and pay for the parent's nursing care is what places the NYC family in the upper middle class. That is probably true but nonetheless they are not living as good of a lifestyle as the family in Pittsburgh with fewer kids, lower housing costs, no elderly parent to support, etc.
07-12-2014 , 09:45 PM
Living in NYC is not some burden or some wealth suck. There's a reason why people want to live there.
07-12-2014 , 10:08 PM
Yeah living in range of Manhattan or San Francisco is definitely a luxury, most people in the area are upper middle class at least even if they don't enjoy much living space or luxuries. Even if your family is all in NYC you could move to Connecticut or Jersey still have a decent job market and be close enough for family support with the kids. Pittsburgh is still much cheaper than middle of New Jersey or Connecticut though
07-12-2014 , 10:11 PM
Quote:
Originally Posted by MrWookie
Living in NYC is not some burden or some wealth suck. There's a reason why people want to live there.


Narcissists seeking ego fuel in the form of contrast and compare hedonic materialism.


Or as my poor Native American friend would say, an old story among his people;



And a Man sat alone, drenched deep in sadness. And all the animals drew near to him and said, "We do not like to see you so sad. Ask us for whatever you wish and you shall have it." The Man said, "I want to have good sight." The vulture replied, "You shall have mine." The Man said, "I want to be strong." The jaguar said, "You shall be strong like me." Then the Man said, "I long to know the secrets of the earth." The serpent replied, "I will show them to you." And so it went with all the animals. And when the Man had all the gifts that they could give, he left. Then the owl said to the other animals, "Now the Man knows much, he'll be able to do many things. Suddenly I am afraid." The deer said, "The Man has all that he needs. Now his sadness will stop." But the owl replied, "No. I saw a hole in the Man, deep like a hunger he will never fill. It is what makes him sad and what makes him want. He will go on taking and taking, until one day the World will say, 'I am no more and I have nothing left to give.
07-12-2014 , 10:24 PM
highest average professor salaries by university

http://www.huffingtonpost.com/2013/0...n_3781207.html
07-12-2014 , 11:09 PM
Excise university salary content imo.
07-12-2014 , 11:51 PM
Quote:
Originally Posted by BadBoyBenny
I'm a little late to the thread here but it really depends on the point in their life they are at.

A couple, each earning around 60k-70k per year during a 10 year peak from 50-60, but earning significantly less during the earlier parts of their career are still going to be middle class. For example, two high school teachers will meet this criteria and I don't think most people consider a family like that upper middle class.

A couple earning 120k combined in their early 30s are upper middle class, but if they have 2 kids in day care they'll lead a middle class lifestyle and still struggle to make ends meet for a few years and consequently resent that designation. The important point is that this expense is only for a few years and their earnings should rise.

Note this is in my area, Pittsburgh, where 200k can still buy a decent 3 bedroom house in a nice school district.
I agree with this....but still huge lol @ an early 30s couple with only two kids ever struggling to make ends meet with a household income of 120K. That sort of money management incapability is pretty unfathomable
07-13-2014 , 01:14 AM
Quote:
Originally Posted by schu_22
I agree with this....but still huge lol @ an early 30s couple with only two kids ever struggling to make ends meet with a household income of 120K. That sort of money management incapability is pretty unfathomable
A basic, small 3-BR house in the NY/NJ/CT suburbs is close to $400k. Add in the high cost of living, other non-mortgage debt, and the cost of raising 2 kids... a couple making $120K might not struggle to make ends meet, but it's not going to leave a lot for retirement savings, emergency funds, home repairs, etc. They certainly won't be living the same upper-middle-class lifestyle as the same family in a small midwestern city where a basic starter home can be had for $80-90k.
07-13-2014 , 08:21 AM
Quote:
Originally Posted by schu_22
I agree with this....but still huge lol @ an early 30s couple with only two kids ever struggling to make ends meet with a household income of 120K. That sort of money management incapability is pretty unfathomable
Child care. 120k is 80k after taxes. Throw in 10k for 401k and health contributions, you are at 5800 a month. Child care can easily eat up 2-3k for 2-3 kids. Assume a 1500 mortgage payment and it's easy to see how after paying for diapers and gas and a car or two there isn't much left over.

      
m