Do philosophers make good money?

The question of whether philosophers make good money is multifaceted, as it depends on a variety of factors, including their career path, academic versus non-academic roles, geographical location, and the way "good money" is defined. In popular culture, philosophers may be stereotyped as struggling intellectuals, eschewing material wealth in favor of abstract contemplation. While this stereotype is not entirely unfounded, the reality is more nuanced. In this article, we’ll examine the economic prospects for philosophers, comparing their earnings across different career avenues and analyzing how their skills and expertise are compensated in various sectors.

**1. Philosophers in Academia: A Traditional Career Path**

The most common path into which philosophers go is, without a doubt, in academic circles, where, a rule, they teach philosophy courses at universities and colleges. In academia, philosophers certainly maintain an intellectually rewarding atmosphere but the monetary returns also span a wide range depending, in large measure, upon status, institution, rank in service, and tenure or seniority.

  **A. Faculty Salaries in Philosophy**

Data from the **American Association of University Professors (AAUP)** reveals that a full-time philosophy professor in the United States makes an average annual income of about $70,000 to $100,000, depending on the university and rank (assistant professor, associate professor, full professor). However, the actual figure may vary a lot. For instance:

- **Assistant Professors** (early-career academics) may earn something in the region of $60,000 to $80,000 annually at public universities.

- **Associate Professors** (mid-career academics with tenure) can earn in the range of $70,000 to $100,000. Full Professors, or senior academics, can make over $100,000 a year, going as high as $120,000 or more at elite institutions.

These figures, though reasonable on their own, pale compared to those positions traditionally believed to be the most lucrative, such as business, law, or engineering. These figures do not hold equal value across the board, since philosophy professors-especially in smaller schools or low-budget institutions-face discrepancies in remuneration. The number of jobs in full-time philosophy faculty positions is minute and very competitive; adjuncts or part-time teaching employees, quite common in many philosophy departments, usually earn well below $30,000 per year without any job security or benefits.

 **B. Job Security and Tenure**

Tenure is another factor impacting philosophers within academia. University faculty regard **tenure** as a major milestone, as it guarantees the faculty member job security in that he or she can't be fired because an idea that he or she expresses doesn't meet popular appeal. However, tenure-track opportunities are extremely competitive, which makes many philosophy Ph.D.s scramble to get positions. In recent years, the number of tenure-track jobs in philosophy has shrunk, increasing the reliance on adjuncts and part-time faculty who are paid less and often work without long-term stability or benefits.

In other words, tenure-track academic positions in philosophy can offer moderate to good pay, but it is hard to get such positions, and perhaps not as financially rewarding as other professional careers.

**2. Philosophy Outside Academia: Careers in Non-Academic Fields**

While many philosophers pursue academic careers, others find fulfilling and well-paying careers outside the academy. Philosophers offer critical thinking, problem-solving, and communication skills valuable throughout a wide range of careers, from law and business to government, publishing, and consulting. Many career paths offer salaries significantly greater than those available in academia.

 **A. Law**

One of the more common non-academic career paths taken by philosophers is in the field of law. Many students of philosophy move on to law degrees after studying philosophy, as it lays an excellent foundation for appreciating complex legal concepts and reasoning. Philosophers' ability for analysis, argumentation, and critical thinking is highly valued in the legal profession.

Lawyers in the U.S. have one of the highest earning potentials among professionals. According to the **U.S. Bureau of Labor Statistics (BLS)**, a median salary for a lawyer approaches $130,000 a year, while top-tier lawyers in corporate law, intellectual property, and other highly specialized fields earn much higher than this. Philosophers often get paid high salaries once they have transitioned to law, making it amongst the most financially rewarding job prospects available to philosophy graduates.

B. Business and Management Consulting

Philosophers are also apt to excel in careers such as business and management consulting because their problem-solving skills are in high demand. It is common for top-ranked consulting firms such as **McKinsey**, **Boston Consulting Group**, and **Deloitte** to snap up graduates in philosophy for their strategic thinking, understanding of complex systems, and effective communication. Indeed, most beginning consultants will receive compensation ranging from $70,000 to $90,000 per year; a figure that is considerably improved with experience.

In addition, numerous philosophers advance into the private sector's leadership positions in **corporate strategy**, **product development**, and **marketing**, where salaries range from $100,000 to over $200,000 for a senior management position.

 **C. Technology and Artificial Intelligence**

Philosophers are increasingly being hired by technology firms, in particular in areas such as **artificial intelligence (AI)**, **ethics**, and **human-computer interaction**. Major companies like **Google**, **Microsoft**, and **Facebook** have begun to hire philosophers to help address the ethical implications of AI, data privacy, and the social impact of technology. These roles may focus on **AI ethics**, **digital privacy**, **machine learning**, and **robotics**, areas that require deep ethical reasoning and an understanding of the societal implications of technological advancements.

Salaries in the tech industry are very lucrative. For instance, jobs specializing in AI ethics or product management range between $80,000 to $150,000 yearly, sometimes more in top tech companies. Philosophers moving into this field find their salaries competitive, far exceeding what they had in academia.

 **D. Publishing, Writing, and Journalism**

Other common career paths for philosophers take place in publishing and journalism, especially in the arenas of **opinion writing**, **editorial work**, and **book publishing**. Philosophers who are great writers can work as **authors**, **editors**, or **columnists**, publishing in philosophical journals and popular magazines and newspapers. Although income in these careers may be inconsistent, renowned authors and public intellectuals sometimes reap significant profits from the sales of books, speaker engagements, and other undertakings. For example, celebrity philosophers like **Jordan Peterson** and **Alain de Botton** have commanded handsome book and lecture fees.

While the publishing and journalism sectors probably have less than stellar wages in comparison with law and business, a decent amount can be made, if an individual rises to fame or seeks a position on established newspapers, journals, and book publishing houses.

 **3. The Economic Realities for Philosophers: A Mixed Picture**

Like most other academic disciplines, philosophy is not a very lucrative career compared to many professional fields, such as law, medicine, or business. Academic philosophers, those that work within the traditional confines of universities, may not make much money, with adjunct positions usually paying much, much less than tenure-track positions. Those who gain tenure or find positions at prestigious institutions can make an adequate income. In addition, the prestige and intellectual satisfaction derived from academic life can be a form of nonmonetary compensation appreciated by many philosophers.

For philosophers who leave academia, the earning potential can be much higher. Fields like law, business consulting, and technology offer lucrative salaries that far exceed those of academic philosophers. The thinking through of complex problems, critical thought, and effective communication that philosophers can do make them quite valuable in many industries.

On the whole, while philosophy as a career may not necessarily guarantee very high returns, the study provides a strong background for entering other well-paying fields. **Philosophers can make good money**, especially in non-academic careers, where their skill set is in high demand.

 **Conclusion**

The economic prospects for philosophers vary. While the traditional academic path may yield mid-level salaries, non-academic careers in law, consulting, technology, and publishing often times create substantial earnings. Philosophy provides a person with valuable skills, such as critical thinking, problem-solving, and communication, which are highly transferable to many high-paying industries. Thus, while philosophy will not be the most financially rewarding field per se, philosophers who apply their training in the right sectors can make a very comfortable living.