My question is about alternative salary streams for academics in fields with strong industry collaboration/interest. What is a typical "bonus" that a tenured academic can expect on top of their salary grade?
I am finishing up my PhD in Engineering in the UK. Given that my PhD (and I am sure many others in similar areas) has transferable skills for the industry (e.g. data science/finance/engineering), I could leave academia for a high paying job. Like many, despite my interest in science, it is hard to justify the ~3x paycut I need to take to continue on with a postdoc after borderline poverty for so many years. And it is hard to justify turning down a job that makes more than a full professor (according to the publicly available salary spine for academics) in my first year.
I have heard that it is common for professors in applied fields to have alternative income streams, through, for example, consulting, industry bonuses, spin-outs, and tutoring services. How common are these alternate streams, and how much (on average) can one expect to make on top of their base salary?
I hope to stay in science but can't help think I'm making an ideological choice over a practical one if I do. Many thanks for any data/perspective!