The U of C has the nations highest average salary for full-time faculty adjusted for the cost of living, according to a recent report in The Chronicle of Higher Education.
The average salary for full-time professors at the University this academic year is $155,100, which is fifth in the nation, unadjusted for the cost of living. The average full-time professor salary nationwide at doctoral universities such as the U of C is $108,404.
Rockefeller, Harvard, Princeton, and Stanford, the four doctoral universities that pay their full-time professors more than the U of C, have higher costs of living than the city of Chicago. The cost of living was based on the American Chamber of Commerce Researchers Association (Accra) index. The cost of living around the U of C is 27 percent higher than the average cost of living in the United States.
According to an American Association of University Professors study, which was the basis for The Chronicle report, unadjusted salaries at the U of C are in the top 5 percent nationally for doctoral universities for the ranks of professor, in the top 20 percent for assistant professor, and in the top 40 percent for instructor.