Do college professors get paid well?

Several factors influence the salary of a professor, including education, experience, the educational institution they work for, and the field they work in.

For example, a professor teaching finance or biochemistry at an Ivy League institution like Yale University, Cornell University, or the University of Pennsylvania will likely make close to $200,000 or more in a year.

Meanwhile, a professor that teaches psychology or history at a small, relatively unknown college, like Lycoming College or Cabrini University, will likely make closer to $80,000 in a year.

Additionally, a professor's level of experience and education factors into their salary level. A professor who is well respected in their field, with significant published works, and who has made important contributions to their field will make a lot of money.

This is compared to someone who has recently achieved their Ph.D. and has limited experience and contributions to their field.