Faculty have many rewards that come in many forms. First and foremost is the satisfaction of taking part in shaping the future, through the knowledge they impart to the students who pass through the university, and through their useful new insights and discoveries. In rewards as in responsibilities, research and teaching are intertwined.
The stimulating intellectual atmosphere of the university is an important reward for faculty who have dedicated themselves to life-long learning, inquiry, and scholarship. There are few institutions in our world that bring together so many disciplines and so many of their leaders in one place. The opportunities for synergy and broadening of horizons are immensely rewarding.
The empowerment that comes with the autonomy and freedom of inquiry that the tenure system provides is another important reward. Tenure is crucial in insulating the faculty, not only from political forces and limits to freedom of expression, but also in keeping at bay market forces that would otherwise divert the mission toward short-term gains and away from the longer-term goals that are central to its mission.
There are also much more tangible material rewards. Access to special facilities, excellent libraries, and research infrastructure that are often better and/or more varied than those available in the private sector provide myriad opportunities for experimentation and discovery. Salaries are, unfortunately, not much of a reward, even though they often dominate discussions of rewards. Most university faculty are paid below levels they could obtain in the private sector. Why our society, and our state in particular, insists on having faculty sacrifice their own and their families' standard of living remains perplexing to many engaged in this most important of missions.
