Yesterday, INOMICS released the Job Market Report 2014 (Worldwide Overview). The Report is based on a survey conducted between April and June 2014, and contains insights about the job market from 1,064 academic professionals from all over the world. The findings include information about professional profiles and status, experience, education and, most significantly, their respective salaries.
The focus of the report is on the academic job market with the majority of respondents representing universities, research institutes or think tanks and possessing high academic qualifications.
The highest salaries for PhD holders with 3-10 years of experience were reported in Australia, with an average salary of $98,000. The average annual salary for similar professionals in Europe varies between $36,000 and $56,000. In the positions of Assistant Professor, Associate Professor and Mid-level Manager, respondents in Canada have the highest earnings ($89,000, $110,000 and $55,000, respectively).
Another key finding of the Report was that one can expect a 50% salary increase after working for 5 years. Slightly more than 40% of respondents with a Bachelor’s degree earned less than $15,000 per year, while over 60% of those respondents with PhDs reported earnings of at least $35,000 annually.
The numbers presented in the graph above show the average income of Full Professors from a given country, based on the responses from our survey, without any adjustments. Of course, when comparing salaries in different countries, a lot of factors should be taken into consideration, including living costs, social security and salary differentials. Nevertheless, these numbers serve as a fair indication of the wage level for academics in each given country.
In the following weeks we will release a series of blog posts that will include more detailed information about salaries for different positions and career levels in specific countries.
Information in the graph is based on the INOMICS Job Market Report 2014 (Worldwide Overview). To see more information about methodology and to read the full version, download the full report here.