> Not true. This assumption only works when one decides that all professors are equally employable both in colleges and private industry. It also assumes an unlimited number of jobs.
For highly-paid professors, it's generally true that they are equally employable in private industry. Similarly, for highly-paid professors, there are plenty of available jobs in industry, hence the high pay.
If you disagree, I'd be interested in hearing what professors you believe are simultaneously overpaid in academia and would face difficultly finding industry work with equivalent pay.
> Worse for college professors they have no choice in having their salaries come down because it won't be a decade before college education done online becomes the main alternative. With the pay scales differences across the world being what they are the fact is you will likely have may opportunities for professors in India and elsewhere teach course with the same expertise.
I seriously doubt this is actually going to happen. There are plenty of accredited online universities already and enrollment in traditional universities has not dropped. Online courses mostly provide an option for people who would otherwise be unable to attend. Sure, some people will choose online studies even if they would be able to attend a traditional university, but I expect them to be in the minority.
Also, I don't expect lower professor pay to be a significant cost reduction for online courses. Employing Indian professors instead of American ones will probably not drop the cost to produce an online course significantly, because the costs can be spread across so many students. If anything, I think online courses might strongly favor native speakers because the language barrier is reduced at such a low cost.
For highly-paid professors, it's generally true that they are equally employable in private industry. Similarly, for highly-paid professors, there are plenty of available jobs in industry, hence the high pay.
If you disagree, I'd be interested in hearing what professors you believe are simultaneously overpaid in academia and would face difficultly finding industry work with equivalent pay.
> Worse for college professors they have no choice in having their salaries come down because it won't be a decade before college education done online becomes the main alternative. With the pay scales differences across the world being what they are the fact is you will likely have may opportunities for professors in India and elsewhere teach course with the same expertise.
I seriously doubt this is actually going to happen. There are plenty of accredited online universities already and enrollment in traditional universities has not dropped. Online courses mostly provide an option for people who would otherwise be unable to attend. Sure, some people will choose online studies even if they would be able to attend a traditional university, but I expect them to be in the minority.
Also, I don't expect lower professor pay to be a significant cost reduction for online courses. Employing Indian professors instead of American ones will probably not drop the cost to produce an online course significantly, because the costs can be spread across so many students. If anything, I think online courses might strongly favor native speakers because the language barrier is reduced at such a low cost.