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To be a college professor you almost have to have a terminal degree. My best friend has a PhD and is still being rejected by most schools he applies to teach. It's a very competitive job market. I am currently applying for professor jobs and I'm lucky to even get an acknowledgment that I sent in the application materials much less an interview.
Most university departments will also require you to do research or have essays or the like published on a regular basis. This means a lot of work outside of just teaching.
Once you get a tenure track position, however, things are much better. Once you get tenure, you're totally set. It's just getting the job that's hard.
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"You can't shoot a country until it becomes a democracy." - Willravel
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