Not really. I assume you're looking purely at NJ for the average numbers for professors at least? Because nationally at 4 year public schools the average is $129K and at 4 year privates it is only $137K.
Uhhhh...... I mean...... okay, I'll take your research as gospel.
That's still more than TWICE the salary of the average college graduate. And for what, for teaching 18th century Greek art? Gimme a frickin' break. It's insane.