Academic Salaries in the UK and Ireland
On Wednesday, January 29, INOMICS released the Economics Job Market Report 2013 (UK and Ireland). This report, based on the findings of the Economics Job Market Survey conducted in 2013, introduces the reader to various aspects of the job market in economics, business and finance, concentrating primarily on the academic field.
As shown earlier in our post “How Much Econ Professors Earn? Salaries in Academia by Country”, the UK is on the list of countries that remunerate their economists quite well. As can be seen in the graph above, entry-level academic positions, such as PhD Candidate, Researcher or Post Doc, tend to pay less than 50,000 US$ per year, though this number is still significantly higher than in many other countries and regions. Salaries for Professors start, on average, with 61,000 US$ per year for Assistant positions, and go above 95,000 US$ per year for Full Professorship positions.
However, there are of course many factors influencing the salary an economist might earn, including years of experience, the highest degree obtained and so on. Our findings show that salaries are strongly correlated with one’s highest degree, and having a PhD determines a stable increase in the average pay.
More details on the findings and methodology of the survey can be found in the full version of the report, which is available for free download on the INOMICS site.
Best Countries to Work in as an Academic: Research Findings
For people looking for a job in the private sector, there are numerous sources of information about best places to work, like Fortune Best Companies or Best Places to Work by Glassdoor to name just two.
The Narrowing of the Gender Pay Gap For Professors in North America
As more women continue to occupy a greater number of senior positions both in academia and the private sector, the gender pay gap has become an increasingly relevant issue in the professional and academic labor market. The INOMICS Salary Report 2016 has shown the average salary earned by both sexes at different professional and academic levels, in varying geographical regions.
Work visas for the UK (for academic & highly qualified professionals)
If you are from outside of the EU, then you will need a visas to work in EU countries such as Britain.