A career in the field of education is not typically considered the path to a quick and easy fortune. When it comes to career growth, this field is very diverse because the core mission of education requires the collaboration of experts in various fields with support from ancillary staff.
Contrary to popular notion, some jobs in the field of education can be financially rewarding. Most of these jobs require years of experience, a slew of credentials and a stringent vetting process.
1. Chief Executive of Top-tier Universities
The head honcho of colleges and universities may bear the title of chancellor, president or provost, depending on the size of the institution. In most cases, the position requires completion of a doctorate with emphasis on executive academic leadership. The pay can range from the low $100, 000 for smaller campuses up to $3 million for the rare few whose tenure can be characterized by positive benchmarks including increased enrollments, robust endowments and growing capital funds from other sources.
The competition can be very tough for these positions as job openings are rare. At 5 percent expected job growth, the outlook is below average compared to similar positions in other industries.
2. Academic Dean
In postsecondary institutions, the academic dean is the head of school or college. This position requires expertise in the college’s specific field of specialization. A master’s degree, a doctorate in the field or related area of study and years of tenured professorship are the typical requirements for job candidates. Academic deans guide academic and student services and oversee research initiatives at their colleges.
The average annual compensation for an academic dean hovers around $83, 000. Job growth for the next 10 years leans toward 20 percent with most of the expansion coming from new course offerings by postsecondary schools to meet the demands of a knowledge-based economy.
3. Law Professors
Class instruction for aspiring lawyers is an employment opportunity for lawyers with the right credentials that would include a doctorate in the field, years of practice and some teaching experience. Adjunct positions may be open to those with a master’s degree. In larger universities, the pay scale for law professors is in the low $100, 000. In junior colleges, compensation averages $67, 990.
Competition for this job can be stiff with the number of available lawyers increasing faster than available jobs.
4.Professors for Health and Allied Health Specializations
The prerequisites for a teaching position in an academic institution preparing would-be doctors, nurses and other health professions are very stringent. A degree in medicine or a doctorate in a relevant field, years of actual practice and instructional experience are a must for professors in the health care field. The compensation for these instructors average $103, 340 a year. The prospects for job growth are excellent and expected to reach 17 to 20 percent because of the needs of an aging population and changes brought about by health care reforms.
5. Engineering Professors
Teaching engineering principles and applications in an academic institution specializing in this area requires a master’s degree at the very least. Experience in research and manufacturing is an advantage as students gain an insight on the industry outlook. Aside from teaching, engineering professors may also be asked to participate in research projects.
Annual wages can top $100, 000 in top-tier universities with the pay rate scaled down for junior colleges and trade schools. The outlook is bright for engineering professors as enrollment in science, technology and engineering courses continue to grow.
