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State Rankings of Cost of Living Adjusted Faculty Compensation

Author

Listed:
  • Terrance Jalbert
  • Mercedes Jalbert
  • Karla Hayashi

Abstract

In this paper we rank states based on higher education faculty compensation. Data on 574 universities across each of the 50 states and the District of Columbia are aggregated to develop a state compensation average. The analysis examines states both on a raw basis and on a cost of living adjusted basis. Rankings are reported for various academic classifications of faculty. Rankings based on salary data alone and salary and benefit combined data are presented. The results indicate that rankings of states based on raw and cost of living adjusted data are markedly different. The results suggest that faculty seeking employment opportunities should carefully consider cost of living issues. Administrators should design salary packages that reflect the local cost of living conditions in their area to attract quality faculty.

Suggested Citation

  • Terrance Jalbert & Mercedes Jalbert & Karla Hayashi, 2009. "State Rankings of Cost of Living Adjusted Faculty Compensation," Accounting & Taxation, The Institute for Business and Finance Research, vol. 1(1), pages 121-137.
    • Handle: RePEc:ibf:acttax:v:1:y:2009:i:1:p:121-137
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    References listed on IDEAS

    as
    1. Li Lian Ong & Jason Mitchell, 2000. "Professors and hamburgers: an international comparison of real academic salaries," Applied Economics, Taylor & Francis Journals, vol. 32(7), pages 869-876.
    2. Terrance Jalbert & Mercedes Jalbert & Karla Hayashi, 2010. "University Rankings By Cost Of Living Adjusted Faculty Compensation," International Journal of Management and Marketing Research, The Institute for Business and Finance Research, vol. 3(2), pages 85-118.
    3. Gary M. Fournier & David W. Rasmussen, 1986. "Salaries in Public Education: the Impact of Geographic Cost-of-Living Differentials," Public Finance Review, , vol. 14(2), pages 179-198, April.
    4. Terrance Jalbert & Mercedes Jalbert & Lucila Zarraga, 2010. "Additional Evidence On University Rankings By Cost Of Living Adjusted Faculty Compensation," Accounting & Taxation, The Institute for Business and Finance Research, vol. 2(1), pages 71-94.
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    More about this item

    Keywords

    cost of living; ranking; faculty compensation; higher education salaries;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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