Highest earning potential for college teachers?

Hello, I'm actually thinking of being a college professor down the line. Can someone please enlighten me on how much a college teacher can possibly earn at their peak?

The potential earning of a college professor largely depends on the field of study and the type of institution. Typically, those in fields like law, economics, and engineering tend to have higher earning potentials as compared to those in the humanities or social sciences.

Based on the U.S. Bureau of Labor Statistics data for 2024, the average salary for postsecondary teachers overall is around $80,000. However, those in the highest 10% earned more than $170,000 annually. Professors in professional subjects like business, law, or health have the highest average salaries, often well over $100,000 per year.

Professors at private universities also often earn more than those at public institutions, while tenured professors make more than those who are not tenured.

Senior faculty members who have been at an institution for a long time or have published extensively in their field can command higher salaries. In addition, professors who have leadership roles such as department chair or college dean often earn additional stipends on top of their regular salaries.

However, it's crucial to note that peak earnings typically come after many years of service and recognition in the field. It's a profession that requires not just academic qualifications but also passion, diligence, and a commitment to research and teaching. The path to becoming a full professor often involves many years of research, publication, and service to the academic community.

While money is an important consideration, many people enter academia not because they want to get rich, but because they are passionate about their field of study, enjoy research and contributing to knowledge, and find satisfaction in teaching and mentoring students.