August 15, 2003
Where the Bucks Are
The few dozen professors at Lake Erie College, a small liberal-arts college in Ohio, have watched their salaries soar recently -- from an average of $31,000 in 1998 to nearly $54,400 this year.
Administrators at Pomona College began a concerted effort in 2001 to make salaries among the highest of any liberal-arts college. Full professors, who averaged $88,000 in 1998, now pull down about $110,000. Officials say they're now turning their attention to raising junior-faculty
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