How much do college professors make on average?

I’ve been thinking about different career options, and teaching college theology or history is at the top of my list. But if I’m going to spend 7-8 years of my life (plus the cost) for my PhD. it’d be nice if it payed off. Also, is there a high or low demand for professors in those fields?
Thank you!

Look at the prospects of getting a full time, tenured position in those fields. In history, particularly American history the chances of actually getting a job are horrible and have been since the 1950s. Do not count on finding a tenure track position. If you want to live in a particular area of the country you will have a very hard time as you are limiting your job search greatly. Full time tenure track professors in history can make $60,000 to $70,000 but it takes many many years to reach those positions. Bureau of Labor Statistics for PostSecondary teachers http://www.bls.gov/oco/ocos066.htm

Many schools are eliminating tenure track positions in favor of adjuncts, who make around $20,000 a year, no health insurance, few opportunities to research, long hours, high travel juggling multiple courses at multiple schools.

I recommend reading The Chronicle of Higher Education http://chronicle.com/section/Home/5 there’s lots of articles on making a PhD pay off, the abysmal job market, and what you need to do to get into grad school and make yourself competitive.

The top ten in demand jobs for 2010

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