Wednesday, August 24, 2005

That'll buy a lot of Doritos

Economist Extraordinaire Brad DeLong illuminates us as to how valued music professors are:
Division of Labour: Academic productivity: From the Aug. 20, 1905 NYT is a report that Dr. Fred Wolle accepted the position of Chair of the Department of Music at California Berkley for $5000 per year.
According to Historical Economic Services:
In 2003, $5,000.00 from 1905 is worth:
$103,803.77 using the Consumer Price Index...
$479,058.79 using the unskilled wage
$605,051.85 using the GDP per capita
[...]
A century ago college teachers were upper class. Now we are upper middle class (or middle class).



I'm at the lower end of salaries at my university, being a lowly, untenured assistant professor. Therefore I'm decidedly middle class, not even close to upper middle class yet. Of course, I went into music for the money (and the chicks).

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4 comments:

  1. Anonymous10/07/2005 2:14 PM

    I've heard about those chicks in the music business!

    ReplyDelete
  2. Scott10/07/2005 2:14 PM

    You never warned me to watch out for the ones that decide to become priests.

    ReplyDelete
  3. Anonymous10/07/2005 2:16 PM

    But once women hear you have a degree in Chemical Engineering, they can't keep their hands off of you.

    ReplyDelete
  4. Scott10/07/2005 2:16 PM

    I'm sure Mass Transfer Phenomena makes for great pillow talk.

    ReplyDelete