How much do professors make?

The U.S. Bureau of Labor Statistics reports that college professors, or postsecondary teachers, earned an average of $73,140 per year, as of May 2013. The median income was $60,670, with 10 percent making $26,480 or less per year. The top 10 percent made $133,360 or more.

At colleges, universities and professional schools, professors averaged $74,400 per year, as of May 2013. Junior college professors or instructors made $70,490 per year. Virginia was the highest paying state for professors, with an average annual salary for professors of $88,950. South Carolina was next at $87,280. New York was the third-highest paying state at $85,530.