Recently I heard a talk from a life coach. Her topic was prosperity. She said, “I used to be a college professor. I was trying to live on $40,000 in New York City. I spent thousands of dollars getting my degree…”
So it’s easy to conclude:
College professors don’t make a lot of money.
You have a HUGE investment in a doctoral program.
In fact, college professors in business and law schools make excellent salaries. They usually enjoy great benefits and perks. They have more freedom to use their time than their industry counterparts. Some don’t own suits. This speaker came from an overcrowded arts field. It’s not clear whether she was a tenured or tenure-track professor or whether she was part-time.
The more prestigious the school, the more income you can expect to earn – up to a point – but you are also expected to invest long hours conducting and publishing research.
Many doctoral programs award stipends to full-time students, especially in the professional field. I paid zero tuition for my doctorate; in fact, I taught outside the university and saved money!
You’ll hear similar stereotypes. Accountants aren’t good with people. Librarians are introverted. Flight attendants are young party-goers.
In fact, any profession carries a wide variety of opportunities. Some accountants are active in client development, so they spend time giving talks and attending meetings. Some librarians are actively engaged in fund-raising. One of my college classmates became a children’s librarian, specializing in storytelling performances. She expanded her outreach to broader entertainment venues. Just today I saw an article about airlines that hire older flight attendants; JetBlue likes to hire retired cops and fire fighters who don’t exactly fit the party image.
Too many people make career decisions based on talking to one or two people – or even just a rumor that “everyone knows.” It’s important to do your research. Interview at least half a dozen professionals in the field you’re considering.
