A Market Approach

By Colleen Flaherty. Few professors would turn down a raise, but even standard contract pay bumps of 3 or 4 percent can leave long-serving faculty feeling less valued than their newer colleagues. That's because junior faculty often are recruited at similar or even higher salaries fresh out of graduate school, especially those in high-demand fields such as business and medicine. The issue, known as salary compression, compounds over time, and it's not great for morale. Read more...