Hold on to your hats: the economy is really bad

It's hard out there for a pimp, yes, but it's no picnic for a professor, given the dismal state of salary increases this past year, as reported in a recent AAUP faculty salary survey.

One fun excerpt from the Chronicle of Higher Ed article:
"In 2009-10, the average salary of a full-time faculty member rose only 1.2 percent. That's the lowest year-to-year increase recorded by the association in the 50-year history of its salary survey. To make matters worse, an inflation rate of 2.7 percent meant that many professors actually had less buying power than the year before. In fact, two-thirds of the 1,141 institutions surveyed over two years gave their faculty members either a pay cut, no raise, or an increase of less than 2 percent, on average."