Odds of Hanging On
The odds of hanging on are excellent. If you obtain tenure at a university, you become invincible (don’t step out into any heavy traffic though). Tenure, or life tenure, means that you cannot be terminated without just cause. To get to this position, you must get an Associate Professor or Professor position. In order for you to be considered for those positions, you must publish research, teach for several years, and have high visibility at your school. That doesn't mean showing up in a clown car. It means attending meetings and sitting on different boards. Sitting on boards (or even tables) can be fun if they equate to job security.
Basically, you're putting in a lot of time in an effort to convince people how smart you are. If you do a good job of it and get noticed by the higher-ups, you might get handed the golden ticket....