This is a very easy question to answer.
According to the U.S Census website, the average grant amount for any year was $22,900 in 2017. With the National Institutes of Health (NIH) being a public agency that provides many grants, this means that the average grant awarded each year is around $17,000. With private agencies like the Ford Foundation coming in right around $15,000, this would mean that a single grant can bring you over $300,000.
So, here’s what you should keep in mind:
As I mentioned earlier, any grant is just a small part of your total income. If you’re getting a higher salary for your job, then the total amount that you are being offered should be less than this.
It is important to remember that funding is never guaranteed. There are many funding sources and all have the same amount of money. The real money that gets put into your hands comes from your employer. If they aren’t willing to pay you full-time or they aren’t willing to put in the time to evaluate your ideas, then they should at least give you a small amount of the money to cover the cost of your research. If they are, then you have done good work and they will be willing to back this up with their time.
If you still need a little advice on this, you can check out our articles on how your company is spending their funds.
What you get for your money
A lot of people focus on the amount of funding that you get. If they don’t then they aren’t really thinking about which ideas might work or have the potential to get funded.
The reality is that funding is just one part of your overall income. Think of your total earnings, as well as the money that you are putting into your research. We know that an average person can expect to be paid $35,000 per year in salary, but the question to ask now is really, “How much can I expect to earn over the next three years?”
To put this into perspective, I’m not taking a single day’s pay when I’m writing this blog post. Since the writing of this post, my earnings have increased by roughly $6,000 from what I earned last year. This doesn’t seem like much, right? But keep in mind that I’m not working for your benefit. I’m doing it for my own benefit.
The idea of a research
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