Business Professor Salary in Richmond, VA: $99,938 (2024)
Official 2024 BLS Data | $48.05/hour | $65,696 - $149,037 range
Median Annual Salary
$99,938
Hourly Rate
$48.05
/hour
Jobs in Area
78
employed
Compare to Other Cities
See All →Richmond, VA
$99,938
San Francisco, CA
$142,142
in San Francisco, CA
Business Professor Salary Range in Richmond, VA
Annual Salary Range
$66k
10th percentile
$84k
25th
$123k
75th
$149k
90th percentile
Salary Breakdown by Percentile
| Percentile | Annual Salary | Hourly Rate |
|---|---|---|
| 10th Percentile (Entry Level) | $65,696 | $31.58 |
| 25th Percentile | $84,252 | $40.51 |
| Median (50th Percentile) | $99,938 | $48.05 |
| 75th Percentile | $123,177 | $59.22 |
| 90th Percentile (Top Earners) | $149,037 | $71.65 |
| Average (Mean) | $108,191 | $52.01 |
Business Professor Market Insights for Richmond, VA
Compensation Overview
Business Professor compensation in Richmond, VA aligns with regional expectations. The salary range from $65,696 to $149,037 provides a clear picture of earning potential at different career stages.
Local Market Context
Richmond, VA offers competitive compensation that aligns closely with national benchmarks. The Virginia economy supports a diverse range of industries, providing stable employment opportunities across multiple sectors.
Career Outlook
The Business Professor profession offers diverse career opportunities across industries. Professional development and continuous learning are key factors in advancing within this field. With a 127% salary range from entry-level to top earners, there is substantial room for financial growth as you advance in your career.
Tips for Increasing Your Salary
- •Develop specialized expertise to command higher compensation—top earners make 49% more than median salaries
- •Build a professional network through industry associations and local business groups
- •Pursue relevant certifications or advanced education to demonstrate expertise
-2%
vs National Avg
-6%
vs State Avg
127%
Salary Range
78
Jobs in Area
Career Path & Salary Progression
Typical Business Professor salary growth in Richmond, VA based on experience level.
Entry Level
0-2 years10th percentile
$65,696
/year
Early Career
2-5 years25th percentile
$84,252
/year
Mid Career
5-10 years50th percentile
$99,938
/year
Senior
10-15 years75th percentile
$123,177
/year
Expert
15+ years90th percentile
$149,037
/year
Note: Career progression and salary growth vary based on company size, industry, skills, and performance. These estimates use percentile data from the BLS as a general guide for typical career paths.
Business Professor Job Market in Richmond, VA
Where Business Professors Work
Business Professors work across multiple industries including corporations, government agencies, healthcare organizations, and consulting firms. Each sector offers different compensation structures and career trajectories.
Local Employment Landscape
Employment in this occupation is more limited in Richmond, VA compared to larger metros. Professionals may find opportunities concentrated among fewer employers, making employer research and networking particularly valuable.
Types of Employers Hiring
Large Corporations
Typically offer comprehensive benefits, structured advancement, and competitive base salaries with bonus potential
Small to Medium Businesses
May provide more responsibility earlier in your career, flexible work arrangements, and equity opportunities
Government Agencies
Known for job security, excellent benefits packages, pension plans, and work-life balance
Professional Services Firms
Provide client exposure, rapid skill development, and often above-market compensation for top performers
Skills That Increase Earning Potential
Job Search Strategy for Richmond, VA
- •Research major employers in the Richmond area and follow them on LinkedIn for job alerts
- •Join local professional associations for networking and job leads specific to Virginia
- •Tailor your salary expectations based on the Richmond, VA market rate of $99,938
- •Consider roles at varying experience levels—entry positions start at $65,696 in this market
Business Professor Career Overview in Richmond, VA
The job market for Business Professors in Richmond, VA is emerging, with approximately 78 professionals employed across the metropolitan area. This represents a growing presence of Business Professor positions, reflecting the region's economic base and employer diversity in Richmond, VA. Compensation aligns closely with national benchmarks, indicating a balanced supply-demand dynamic in this market.
Richmond, VA's diverse economy supports education roles across multiple sectors including healthcare, education, government, technology, manufacturing, and professional services. Major employers in Virginia range from large corporations and hospital systems to mid-size regional firms and growing startups. This employer diversity provides career stability and mobility, as professionals can advance their careers without necessarily relocating. The mix of public and private sector opportunities also creates varied compensation structures, with some employers offering lower base salaries but stronger benefits and job security.
The growth outlook for Business Professor positions in Richmond, VA is projected to remain stable with opportunities tied to local economic growth and industry trends. With 78 current positions and a median salary of $99,938, the market provides a solid foundation for career development. Professionals who invest in continuing education and stay current with industry developments position themselves for both job security and upward salary mobility. The combination of Richmond, VA's economic trajectory and broader industry trends suggests that qualified Business Professors will continue to find opportunities in this market over the coming years.
Richmond, VA offers a balanced proposition for Business Professors. The cost of living index of 98.2 sits near the national average, meaning the median salary of $99,938 translates to real purchasing power that closely matches the nominal figure. This makes salary comparisons with other similarly-priced metros straightforward. Business Professors evaluating Richmond, VA against peer cities should focus on factors beyond raw salary numbers, including career growth opportunities, industry specialization, commute quality, and lifestyle fit.
The Education field in Richmond, VA benefits from the region's broader economic ecosystem. Local industry associations, professional networking groups, and continuing education opportunities through area universities and community colleges help Business Professors stay connected and advance their careers. Virginia's business incentive programs and workforce development initiatives also play a role in attracting employers and creating positions. For Business Professors early in their career, Richmond, VA offers the chance to build a professional network in a market where individual contributions are often more visible than in the largest metros, potentially accelerating career progression.
Business Professor Compensation Deep Dive in Richmond, VA
The salary range for Business Professors in Richmond, VA spans from $65,696 at the entry level (10th percentile) to $149,037 for top earners (90th percentile), a spread of $83,341. This 127% differential reflects the significant impact that experience, specialization, credentials, and employer type have on compensation in this field. The median salary of $99,938 sits at the midpoint of the market, representing what a Business Professor with moderate experience and standard qualifications can expect. The 25th percentile ($84,252) typically corresponds to early-career professionals with 1-3 years of experience, while the 75th percentile ($123,177) reflects seasoned professionals with specialized skills or management responsibilities.
Base salary tells only part of the compensation story for Business Professors in Richmond, VA. Total compensation packages commonly include health insurance (valued at $6,000-$15,000 annually for employer contributions), retirement plan matching (typically 3-6% of salary, worth $3,998 per year at the median), paid time off (averaging 15-20 days), and in some cases performance bonuses, stock options, or professional development allowances. When evaluating job offers, Business Professors should request a total compensation breakdown. A position paying $84,252 with strong benefits may deliver more value than one paying $99,938 with minimal perks.
Cost of living directly impacts how far a Business Professor's salary goes in Richmond, VA. With a local cost-of-living index of 98.2 (where 100 equals the national average), the median salary of $99,938 provides purchasing power equivalent to approximately $101,770 in an average-cost U.S. city. This balanced cost environment means the salary figure closely reflects actual purchasing power, simplifying financial planning and comparisons with other mid-range markets.
Negotiating Business Professor compensation in Richmond, VA requires market awareness. The gap between the 25th and 75th percentiles ($84,252 to $123,177) represents the most common negotiation range. Candidates with in-demand certifications, niche expertise, or competing offers have the strongest leverage. In this market, salaries track national norms, and well-prepared candidates can typically move offers 5-10% above the initial number. Asking for a salary review after 6-12 months, signing bonuses, or additional PTO are effective alternatives when base salary flexibility is limited. On an hourly basis, Business Professors in this market earn between $32 and $72 per hour, with the median at $48.
Business Professor Career Path & Growth in Richmond, VA
The career trajectory for Business Professors in Richmond, VA shows significant earning potential over time. Entry-level professionals start around $65,696, while top earners reach $149,037, representing a 2.3x increase from start to peak. This progression typically unfolds over 10-20 years and is driven by accumulating expertise, taking on leadership responsibilities, developing specializations, and building a professional reputation. In Richmond, VA's education market, professionals who demonstrate consistent performance improvements and take on increasingly complex projects advance most quickly. Mid-career transitions into management, consulting, or entrepreneurship can also accelerate earnings beyond the standard progression curve.
Business Professors in Richmond, VA who are exploring career pivots or complementary roles should consider positions such as related professionals in the same field, supervisory roles, and cross-functional positions. These adjacent occupations often share transferable skills and can offer different compensation structures, work environments, or growth trajectories. In Richmond, VA's job market, professionals who develop cross-functional capabilities spanning multiple related roles tend to be more resilient to market shifts and better positioned for leadership opportunities. Lateral moves can also provide valuable perspective that strengthens a professional's long-term career trajectory.
The skills most in demand for Business Professors in Richmond, VA include industry-specific technical competencies, communication and collaboration skills, analytical thinking, and adaptability to new tools and processes. Employers in Richmond, VA value professionals who combine deep subject-matter expertise with the ability to work effectively across teams and adapt to evolving industry requirements. Pursuing relevant professional certifications can provide a measurable salary boost of 5-15% and signal commitment to the field. Continuous learning through industry conferences, online courses, and professional associations helps Business Professors stay competitive in Richmond, VA's evolving job market.
More Questions About Business Professor Salaries in Richmond, VA
What is the starting salary for a Business Professor in Richmond, VA?
Entry-level Business Professors in Richmond, VA (10th percentile) earn approximately $65,696 per year, or about $5,475 per month. The 25th percentile, representing early-career professionals with some experience, earns $84,252. These figures reflect base salary only; new hires may also receive benefits worth an additional 20-30% of base pay. Building specialized skills and pursuing relevant certifications are the fastest paths to moving beyond entry-level compensation.
How much do experienced Business Professors make in Richmond, VA?
Experienced Business Professors at the 75th percentile earn $123,177 annually in Richmond, VA, while top earners at the 90th percentile make $149,037. The jump from median ($99,938) to 75th percentile represents a 23% increase, typically achieved through 5-10 years of experience, management responsibilities, or specialized expertise. Senior professionals who combine technical depth with leadership skills are best positioned for top-tier compensation.
Is Richmond, VA a good city for Business Professors?
Richmond, VA offers competitive compensation that closely tracks national averages. With 78 Business Professor positions in the metro area, the market is smaller but can offer less competition and more personal career development. Quality of life, industry presence, and long-term career trajectory should all factor into your evaluation alongside salary data.
How does Business Professor pay in Richmond, VA compare to the national average?
The median Business Professor salary in Richmond, VA is $99,938, which is 2% lower than the national median of $102,420. After adjusting for cost of living, the effective purchasing power is $101,770, which provides a more accurate comparison. Within Virginia, Richmond, VA ranks below some peer metros for this occupation.
What benefits do Business Professors typically receive in Richmond, VA?
Beyond base salary, Business Professors in Richmond, VA typically receive health insurance (medical, dental, vision), retirement contributions (401k matching of 3-6%), paid time off (15-25 days annually), and sometimes performance bonuses or profit sharing. The total value of benefits often adds 25-35% on top of base salary, meaning a Business Professor earning the median of $99,938 may receive total compensation of $129,919 or more. Some employers also offer tuition reimbursement, professional development budgets, flexible work arrangements, and wellness programs.
What skills are most in demand for Business Professors in Richmond, VA?
Business Professors in Richmond, VA who command the highest salaries typically combine core technical competencies with strong communication skills, analytical thinking, adaptability, and a commitment to professional development. Employers in this market particularly value professionals who can demonstrate measurable impact, whether through revenue generation, cost savings, process improvements, or team leadership. Certifications relevant to the Education field can increase earning potential by 5-15%. Staying current with industry trends and emerging technologies is essential for career advancement and salary growth.
Frequently Asked Questions
The median business professor salary in Richmond, VA is $99,938 per year ($48.05/hour) as of 2026. This is based on official U.S. Bureau of Labor Statistics data. Salaries range from $65,696 for entry-level positions to $149,037 for experienced professionals in the top 10%.
Entry-level business professors in Richmond, VA typically start at around $65,696 per year ($31.58/hour), representing the 10th percentile. New graduates and those with less than 2 years of experience fall into this range. With experience and skill development, salaries can progress to the median of $99,938 within 3-5 years.
Business Professors in Richmond, VA earn a median hourly wage of $48.05 per hour. Hourly rates range from $31.58/hour at entry-level (10th percentile) to $71.65/hour for top earners (90th percentile). Based on a standard 2,080-hour work year, this translates to annual salaries between $65,696 and $149,037.
The median business professor salary of $99,938 in Richmond, VA is slightly below the national median of $102,420 (2.4% lower). The cost of living is also 2% below average. This salary places you at the 50th percentile, meaning half of business professors in the area earn more and half earn less.
Business Professors in Richmond, VA earn slightly below the national average. The local median salary of $99,938 is 2.4% lower than the national median of $102,420. The cost of living is also 2% below average. When adjusted for cost of living, the effective salary is approximately $101,770.
The top 10% of business professors in Richmond, VA earn $149,037 or more per year ($71.65/hour). These top earners typically have 10+ years of experience, advanced certifications, specialized expertise, or hold senior/management positions. The 75th percentile earns $123,177, which is a realistic goal for mid-career professionals.
Key skills that can boost business professor salary in Richmond, VA include: Strong communication and interpersonal abilities, Problem-solving and critical thinking, Technical proficiency relevant to the field, Attention to detail and organizational skills. Professionals with these skills often earn above the median of $99,938, potentially reaching the 75th percentile ($123,177) or higher. Years of relevant experience
Richmond, VA has a specialized job market for business professors, with approximately 78 professionals employed in the area. The median salary of $99,938 is slightly below the national average. The cost of living is also 2% below average. Job seekers should consider both salary and local industry demand when evaluating opportunities.
Compare your business professor salary to these Richmond, VA benchmarks: 10th percentile (entry-level): $65,696, 25th percentile: $84,252, 50th percentile (median): $99,938, 75th percentile: $123,177, 90th percentile (top earners): $149,037. If you earn more than $99,938, you're above average for the area.
Beyond the $99,938 median base salary, business professors in Richmond, VA typically receive comprehensive benefits including health insurance (medical, dental, vision), retirement plans (401k with employer matching), paid time off (15-25 days), and potentially bonuses or profit-sharing. Total compensation including benefits typically adds 25-40% to base salary value.
Experienced business professors with 5-10 years in Richmond, VA typically earn $123,177 (75th percentile) to $149,037 (90th percentile) per year. Senior professionals with 10+ years, certifications, or management roles can reach the top 10% at $149,037. Mid-career professionals (3-5 years) usually earn around the median of $99,938.
Business Professors in Richmond, VA can see significant salary growth over their careers. Entry-level ($65,696) to median ($99,938) typically takes 3-5 years. Reaching the 90th percentile ($149,037) may take 10+ years and often requires specialized skills, certifications, or leadership experience. That's a potential growth of $83,341 over a career.
Data Source & Methodology
Official government statistics you can trust
U.S. Bureau of Labor Statistics
Occupational Employment and Wage Statistics (OEWS) Program
Visit Official BLS WebsiteData Year
2024
2 Years Old
Geographic Area
Richmond
Metropolitan Statistical Area
Occupation Code
25-1011
SOC Classification
Sample Size
78
Employees Surveyed
How This Data Is Collected
The OEWS program produces employment and wage estimates annually for over 800 occupations across all metropolitan and nonmetropolitan areas. Approximately 1.1 million establishments are surveyed over a three-year period, representing the most comprehensive wage data available for the U.S. labor market.
Note: Percentile wages represent actual reported wages and may differ from individual compensation packages that include benefits, bonuses, and equity.
Last updated: January 23, 2026
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Business Professor in Richmond, VA
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Median: $99,938/yr
How Richmond, VA Compares
vs National Average
$102,420
vs Virginia Average
$106,438
Cost-of-Living Adjusted
$101,770
Cost of living in Richmond, VA is 1.8% below the national average.
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