Assistant professor is the entry-level for tenure track academic jobs, associate professor is the next step, then just plain professor.
Assistant professor would be equivalent to lecturer in a UK university. Associate professor perhaps more like senior lecturer although the boundaries aren't precisely the same.
(Terms like instructor and lecturer are used for staff who primarily just do teaching and little or no research. Also these positions tend to be fixed-term contracts - not tenure-track).
If you've got less than five years experience as a lecturer over here I assume you'll be going in at the assistant professor rank.
There is a tremendous amount of variation across institutions and salary is generally more negotiable at US universities than in the UK.
At smaller, less prestigious colleges assistant professor salaries might range from $35,000 to $60,000
At bigger, more prestigious universities perhaps $50,000 to $75,000 or more
(these numbers could be a bit out of date)
You'll need to get some idea of the norms for Embry-Riddle and where you would fall in that range would depend on experience.
If you were staying put you'd expect to move out of the assistant scale and onto the associate scale after 5 years or so (again depending on previous experience).