Tuition, Salary Comparisons of Professors and Graduates
Summary
Though higher education is not a for-profit operation, appropriate financial planning, such as proper income and expenditure budgeting and financial resources distribution, is still essential. In order to understand the levels of student tuition in different countries and regions and their impact on faculty salary, instead of comparing tuition in terms of absolute values, we may want to normalize tuition further according to GDP per capita. Graduates are important human resources contributing to society and deserving proper remuneration. Alumni salaries are important performance indicators when evaluating the performance of universities and education systems. The annual salary of assistant professors in various academic disciplines varies greatly in different countries and regions. Instead of comparing the per capita income of college graduates with the cost of living in different communities, let us normalize the comparison by taking into consideration the average salary of fresh university graduates and the GDP per capita of the country/region they come from.