Income that is taxable must be reported on your return and is subject to tax. Income that is nontaxable may have to be shown on your tax return but is not taxable. A list is available in Publication 525, Taxable and Nontaxable Income.
By rank, the average was $98,974 for professors, $69,911 for associate professors, $58,662 for assistant professors, $42,609 for instructors, and $48,289 for lecturers. Faculty in 4-year institutions earn higher salaries, on average, than do those in 2-year schools.In 2006â07, faculty salaries averaged $84,249 in private independent institutions, $71,362 in public institutions, and $66,118 in religiously affiliated private colleges and universities.n 2006, the overall median 9-month salary for all professors in the U.S. was reported to be $73,000, placing a slight majority of professors among the top 15% of earners at age 25 or older.
The average salary for an Associate Professor, Postsecondary / Higher Education is $71,692 per year.or the first five to ten years in this position, pay increases modestly, but any additional experience does not have a big effect on pay. The skills that increase pay for this job the most are Accounting, Molecular Biology, Clinical Research, and Grant Writing.