Influence of salary on faculty recruitment and retention: current pharmacy faculty salaries relative to past faculty, community practitioners, and new hires

ObjectivesTo examine faculty and practitioner salary over time and to examine the evidence for the existence of faculty salary compression.MethodsSalary data were extracted from the American Association of Colleges of Pharmacy (AACP) Faculty Profile salary reports from 1975–2008 and from Drug Topics, and then corrected for inflation.ResultsFaculty salaries have increased over time, although not as much as practitioner compensation. The gap between new and experienced assistant professors closed. Salary inversion was found. Practitioner-heavy faculty disciplines showed more compression. Academic year positions showed more inversion. Dean salary increased at the highest rate.ConclusionsOverall faculty compensation has improved. Faculty salary inversion exists and the existence of faculty salary compression is indisputable. Associates suffered the largest relative reduction in salary across faculty ranks. Job dissatisfaction because of inadequate salary is a likely factor in the current shortage of faculty directly as a source of job dissatisfaction, and indirectly via faculty with high levels of job dissatisfaction influencing potential future faculty in a negative manner.