This is the sixth table from the so-called “Cartel” summary report from December 1965 of 9-10 month salaries paid in U.S. economics departments. In the previous five tables The Cartel reports median or average incomes or ranges of salary offers by ranks across departments. In this posting we have Table 6c from the summary report that gives the salary distributions by rank for 335 professors, 143 associate professors and 185 assistant professors from all 27 departments.
Earlier postings gave the distribution for full-professors, the distribution for associate professors, and the distribution for assistant professors across departments. Two previous postings have the actual distributions for entering salaries for new Ph.D.’s for 1964-65 and 1965-66 and the anticipated range of salary offers for new Ph.D.’s for 1966-67.
Refer to the first posting in this series of tables for information about the compiler Professor Francis Boddy of the University of Minnesota and a list of the 30 departments belonging to the Chairmen’s Group.
Using the BLS web CPI Inflation calculator, one can inflate nominal levels (say for December 1965, the date of the report) to April 2017 using a factor of 7.69.
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TABLE 6c
Salaries of Economists (9-10 month, academic year, 1965-66) in 27 of the 29 Departments of Economics (The Cartel):
N = Number of Persons
| MID POINT OF RANGE | PROFESSORS | ASSOCIATE PROFESSORS | ASSISTANT PROFESSORS |
| 26,750/and over | 2 | ||
| 26,500 | 0 | ||
| 26,000 | 2 | ||
| 25,500 | 1 | ||
| 25,000 | 8 | ||
| 24,500 | 0 | ||
| 24,000 | 4 | ||
| 23,500 | 2 | ||
| 23,000 | 7 | ||
| 22,500 | 2 | ||
| 22,000 | 12 | ||
| 21,500 | 7 | ||
| 21,000 | 10 | ||
| 20,500 | 5 | ||
| 2,0000 | 22 | ||
| 19,500 | 10 | ||
| 19,000 | 13 | ||
| 18,500 | 11 | ||
| 18,000 | 24 | ||
| 17,500 | 8 | ||
| 17,000 | 19 | ||
| 16,500 | 23 | ||
| 16,000 | 27 | ||
| 15,500 | 20 | 1 | 0 |
| 15,000 | 21 | 2 | 1 |
| 14,500 | 14 | 2 | 0 |
| 14,000 | 22 | 10 | 0 |
| 13,500 | 10 | 12 | 0 |
| 13,000 | 10 | 13 | 1 |
| 12,500 | 7 | 18 | 2 |
| 12,000 | 6 | 20 | 1 |
| 11,500 | 3 | 21 | 7 |
| 11,000 | 3 | 13 | 9 |
| 10,500 | 0 | 18 | 18 |
| 10,000 | 0 | 9 | 35 |
| 9,750 | 1 | 9 | |
| 9,500 | 2 | 28 | |
| 9,250 | 1 | 11 | |
| 9,000 | 0 | 24 | |
| 8,750 | 0 | 8 | |
| 8,500 | 0 | 13 | |
| 8,250 | 2 | ||
| 8,000 | 15 | ||
| 7,750 | 1 | ||
| N=335 | N=143 | N=185 |
Source: Johns Hopkins University. The Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 5, Box 6, Folder 2 “Statistical Information”.
Image Source: “Me and my partner” by C. J. Taylor on cover of Punch, December 25, 1889. Library of Congress Prints and Photographs Division Washington, D.C.