How do the prospects look for new doctorates planning to teach at business schools in the U.S.? In addition to looking at salaries for full-time faculty and administrators, the 2014-2015 Salary Survey reports that will be released later this month break down the counts of new hires that are new doctorates and the salary ranges and averages reported for these new faculty by discipline. A quick look at the average salaries for new doctorates in most disciplines (Table 1) shows a decline from last year, but averages are still similar to or higher than salaries reported two years ago and fall within a reasonable range for all new hires by discipline and rank (Table 2).
Table 1. Average Salaries for New Doctorates by Discipline Groups
(All U.S. participant schools in each year included.)
| Field Discipline | 2012-13 | 2013-14 | 2014-15 |
|---|---|---|---|
| Accounting/Taxation | 142.5 | 151.1 | 149.5 |
| CIS/MIS | 111.3 | 113.0 | 110.1 |
| Economics/Managerial Economics | 88.2 | 91.1 | 91.7 |
| Finance/Banking/Real Estate/Insurance | 135.2 | 152.8 | 149.6 |
| Mgmt/Behavioral Science/International Business/Strategic Mgmt | 109.1 | 114.1 | 110.9 |
| Marketing | 111.8 | 124.3 | 116.0 |
| Production/Operations Management | 121.9 | 115.3 | 108.5 |
| Quantitative Methods/Operations Research/Statistics | 98.7 | 122.4 | 115.2 |
| Combine (All) | 105.7 | 124.4 | 122.9 |
Table 2. Average Salaries for New Hires by Discipline Groups and Faculty Rank
(All U.S. participant schools in each year included.)
| Field Discipline | Professor | Associate Professor | Assistant Professor | Instructor |
|---|---|---|---|---|
| Accounting/Taxation | 157.7 | 142.2 | 139.7 | 79.3 |
| CIS/MIS | 135.8 | 108.2 | 109.6 | 72.5 |
| Economics/Managerial Economics | 202 | 127.2 | 96.6 | 66.7 |
| Finance/Banking/Real Estate/Insurance | 231.2 | 185.6 | 149.9 | 88.5 |
| Mgmt/Behavioral Science/International Business/Strategic Mgmt | 188.5 | 130.4 | 113.3 | 73.3 |
| Marketing | 210.1 | 140.6 | 117.5 | 75.3 |
| Production/Operations Management | 151.2 | 127.4 | 116.1 | 80.1 |
| Quantitative Methods/Operations Research/Statistics | - | - | 117.5 | 75.7 |
| Combined (All fields/disciplines, including fields/disciplines not listed above) | 185 | 139 | 122.1 | 75.4 |
In 2014-15, 19.5 percent of new hires were classified as new doctorates. This percent has increased each year since 2012-13. If we look at all new hires, including new doctorates, the portion of full-time faculty classified as new hires increased from 8.1 in 2013-14 to 9.4 percent in 2014-15 and, on average, each school welcomed 4.9 new faculty members in the fall of 2014, up slightly from 4.5 in 2013.
Data Note:The Salary Survey Overview Reports and Benchmarking results are released in January of each year. For 2014-15, data from a total of 579 schools were received in time to be analyzed for the overview reports, with additional participating schools included as their data are finalized. The data represent individual full-time salaries and supporting information for 34,893 faculty and 6,586 administrative positions. Twenty-eight different currencies are represented in the survey responses. For more information about the Salary Survey data and reports, please email datadirect@aacsb.edu.
[This content is also available in eNEWSLINE, January 2015.]
nice information.
Posted by: maryjane | 26 May 2017 at 07:30