Given the amount of time and other costs of investing in human capital that it takes to earn a Ph.D., why are college professors paid less than other occupations that require similar or lesser amounts of human capital?

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Nnandii Alexander · Accepted Answer

Final Answer : If being a college professor is considered prestigious, the compensation need not be as great. Also, there are aspects of this profession that many people find desirable. Hours are flexible. The environment is clean and safe. There are long vacations during the year, and professors can usually take summers off.

Given the amount of time and other costs of investing in human capital that it takes to earn a Ph.D., why are college professors paid less than other occupations that require similar or lesser amounts of human capital?

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