Faculty Salaries in Higher Education among Business and Other Fields of Study

Discussion and comparison of faculty salaries in academia is an ongoing research interest for all stakeholders in higher education. The intention of this research is to understand the differences in faculty salaries within five business classifications and across other academic subject areas. Various authors have examined different aspects of faculty salaries using different sources of data. Using data from the College and University Professional Association for Human Resources (CUPA-HR), this study employs a series of one-way analysis of variance (ANOVA) quantitative tests to examine differences in faculty salaries across various academic disciplines and ranks. Significant differences were located among several of the five business-related classifications identified for this study (accounting, economics, finance, management, and marketing). Additionally, faculty salaries in the business field were found to be significantly higher than all other fields in all ranks of faculty classified as full-time. The results of this research will enhance the understanding of compensation for higher education faculty, leading to enhanced decision making for public policy and cost structures.