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Patrick Schlievert Ph.D.
Chair, Professor of Microbiology and Immunology, Professor of Internal Medicine, University of Iowa
Undergrads who obtain BA/BS can expect a starting salary of $40K-50K, plus fringe benefits, in a university setting. These numbers are set by grant funding. Industry salaries are perhaps $10K higher. Wages for MS folks are rising, but I have seen little evidence of this truly happening. Ph.D. faculty salaries at small colleges are almost always nine months and $40K to $100K max. For large Universities and significant industries today, the starting salaries are usually $100K and peak at $300K as prominent full professors with lots of grant funding or accepting directorships in companies.
These are proportionately scaled down for nine-month appointments, but you can generate additional summer salary from grants. If you go with a start-up, your salary will likely also be in the $100K range, but you will probably also have to write SBIR grant applications, generating additional wages. The critical thing with small companies is that you can gain experience that may get you the desired job in a large company. I became chair of M&I because I wanted to help the faculty! That is my only desired legacy. That is often not why chairs are hired, though. Department chairs in large universities often make $250K to $350K; this is quite acceptable.
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