Complex sentence: Though adjuncts hold at least a Master's degree, if not a PhD., the salary for these positions is relatively low; many adjuncts must work at several schools at once in order to earn a living in academia.
Split into simpler sentences: Though adjuncts hold at least a Master's degree, if not a PhD., the salary for these positions is relatively low. Many adjuncts must work at several schools at once in order to earn a living in academia.