The world of academia is constantly changing, so much so that the importance to Professors, of different academic and career achievements, is shifting in ways that may be somewhat unexpected.

The INOMICS Salary Survey asked Assistant, Associate and Full Professors for their opinions as to what they thought were the most relevant academic characteristics that justified a higher salary in academia. The Survey has attempted to answer the general question often posed by potential academic job applicants, as to which skills, qualities and achievements will justify and bring about a higher salary.

One’s educational level was seen as most important in Asia and North America, suggesting a more rigid, defined and traditional university and academic hierarchy in these regions. Further, Asia placed last in terms of the importance it gave to academic publications whilst placing the most importance of the group sampled, on language ability. This may be an indicator that Asian Professors view their roles perhaps, as much more instructional and indicative of status, rather than as a practical tool for the furtherance of development in a given field.

Interestingly, across all levels of Professors, student evaluation is not considered to play an instrumental role in the justification of higher salaries. The competence of Professors based on academic publications is seen to be the main justification for higher salaries. This suggests that for Professors, research ability is far more important than pedagogical skills.

The INOMICS Salary Report also includes skills and experiences justifying higher salaries in the private sector, answered by senior and mid-level respondents. To learn  more about worldwide salary by gender and region, please visit this page to download the full report for free.

Information in the graph is based on the INOMICS Salary Report 2016. The report reflects job market and salary trends for economists, ranging from those just starting their Master’s to those working as senior professors or researchers in academia and the private sector.

Key findings include:

✓ Professors consider research publications more relevant for their employability than teaching skills.
✓ The gender pay-gap for economics professors at North American universities seems to have narrowed to the point of non-existence. If anything, female academics seem to earn slightly more than their male counterparts.
✓ Salary is not a primary motivator, although it has a demotivating effect if too low.
✓ A higher salary is considered as more important in some regions, for example in Asia, especially among people working outside of academia.