Salary Guides: a useful tool for employees and employers
Couple of weeks ago I was talking to a friend of mine who is a Professor of Accounting in one of the UK universities. We were discussing academic salaries; after all, my recent elevation in the academic packing order made me curious.
Getting a personal chair at a highly ranked university brought me a very modest salary raise. So I was wondering how do I fair compared to my colleagues.
Here is the thing:
- There is no salary scale for professors;
- Salaries are negotiated;
- Information is impossible to come by;
- Research results showing that female professors still earn about 17-20% less than their male colleagues are muted.
Of course, I’d like to know; after all this is a matter of fairness, sound employment practices and underpins personal choice.
After searching for hours I am still not the wiser. The information about professorial salaries simply doesn’t seem to be around.
Here is where my friend, the Accounting professor, gets into the picture.
‘Oh, I know exactly how much professors in Accounting and Finance earn.’ – she said. ‘BAFA (British Accounting and Finance Association) does a survey every year and members can access the results.’
Interesting I thought. I wish there is something like this for ‘ordinary’ professors.
But the fact is, that such useful for employees and employers guides are published for ‘the professions’; namely accounting and finance, law and IT.
If you are curious about the benefits from having such guides you may have a look at the short video clip below. Nifty, isn’t it? I just wish producing salary guides was possible for other occupations.