Salary Survey Executive Summary

Transcription

1 -2005 Salary Survey Executive Summary We are pleased to present the results of AACSB International s 37 th annual Salary Survey. This executive summary provides an overview of the results of the most comprehensive and credible salary survey in the industry. The full report that follows provides detailed breakouts by field/discipline, accreditation status and institutional control (public vs. private). Custom Salary Survey reports also are available to schools that participated in the survey. Participation AACSB invited 657 business schools among educational members in the United States to participate in this year s survey. Reflecting the high value of the Salary Survey results, member participation was exceptionally high 95 percent among accredited institutions and 77.6 percent overall. Table 1 details the participation rate by institutional control (public/private) and accreditation status. The 657 participating schools provided data for 25,922 business faculty members across 28 business fields and all ranks as well as Table 1. Participation by Accreditation Status and Control Type of Institution AACSB Members* Number Private Accredited Private Non-Accredited Public Accredited Public Non-Accredited Total * U.S. educational members were invited to participate 4,558 administrators in 25 positions normally found in business schools. Of the 4,558 administrative salaries reported, 896 were on a nine-month basis, while 3,662 were on a 12-month basis. The distribution of participating institutions by the Carnegie Classifications is shown in Table 2. It illustrates reasonable diversity in survey participation, but also reveals higher participation rates among AACSB institutions classified as doctoral/research universities. Table 2. Participating Institutions by Carnegie Classification Carnegie Classification AACSB Members of Total Members Number of Total Response Rate Baccalaureate Colleges Doctoral/Research Universities Extensive Doctoral/Research Universities Intensive Master's Colleges and Universities I Master's Colleges and Universities II Specialized Other Total Copyright AACSB International The Association to Advance Collegiate Schools of Business, December Page 1

2 Business Faculty Market Trends The market for business faculty remains strong due to a continuing decline in doctoral degree production in the U.S. The average full-time faculty nine-month salary across all ranks and fields increased 4.0 percent to $93,500 from $89,900 last year. Interestingly, the biggest gain in average salary 5.3 percent across all fields was among those holding the rank of instructor. Most of the gains can be attributed to raises for incumbent faculty, as average salary to new hires increased by only 2.2 percent. Indeed, the portion of full-time faculty classified as new hires in decreased to 7.1 percent from 8.1 percent last year. On average, each school welcomed 3.6 new faculty members in the fall of, which is down from 4.1 in. The distribution of hiring activity has shifted over the last eight years. Table 3 shows the share of hiring activity by field/discipline in the current year and the years Table 3. Distribution of Across Fields/Disciplines Accounting/Taxation CIS/MIS Economics/Managerial Economics Finance/Banking/Real Estate/Insurance Marketing Production/Operations Management Research/Statistics Other and 1996 for comparison purposes. Information systems share continued its decline to 9.8 percent in from 17.6 percent in Hiring activity in accounting rebounded to 17.3 percent share from recent figures as low as 14.7 percent in 2002 (not shown). Management and economics also picked up market share. Table 4 shows the percent of full-time faculty indicated as non-tenure track. Nontenure track positions dominate the rank of instructor but still account for only a small fraction at the ranks of professor, associate professor and assistant professor. Signaling a potential trend, the portion of full-time faculty holding instructor rank increased to 11.7 percent from 10.8 percent last year. One-quarter of the new hires in came in with instructor rank. Table 4. Non- Faculty Non- Non- Non- Non- Rank Professor Associate Professor Assistant Professor Instructor Copyright AACSB International The Association to Advance Collegiate Schools of Business, December Page 2

3 Business Faculty Salaries Tables 5a-5e show average business faculty salaries by rank (including new doctorates) and field/discipline. They also show the percentage change from and the average salary paid to new hires for each rank and field/discipline. Table 5a. Professor Salaries by ($ s in 000 s) Accounting/Taxation CIS/MIS Economics/Managerial Economics Finance/Banking/Real Estate/Insurance Marketing Production/Operations Management Research/Statistics Table 5b. Associate Professor Salaries by ($ s in 000 s) Accounting/Taxation CIS/MIS Economics/Managerial Economics Finance/Banking/Real Estate/Insurance Marketing Production/Operations Management Research/Statistics Copyright AACSB International The Association to Advance Collegiate Schools of Business, December Page 3

4 Table 5c. Assistant Professor Salaries by ($ s in 000 s) Accounting/Taxation CIS/MIS Economics/Managerial Economics Finance/Banking/Real Estate/Insurance Marketing Production/Operations Management Research/Statistics Table 5d. Instructor Salaries by ($ s in 000 s) Accounting/Taxation CIS/MIS Economics/Managerial Economics Finance/Banking/Real Estate/Insurance Marketing Production/Operations Management Research/Statistics Copyright AACSB International The Association to Advance Collegiate Schools of Business, December Page 4

5 Table 5e. Doctorate Salaries by ($ s in 000 s) Accounting/Taxation CIS/MIS Economics/Managerial Economics Finance/Banking/Real Estate/Insurance Marketing Production/Operations Management Research/Statistics Copyright AACSB International The Association to Advance Collegiate Schools of Business, December Page 5

6 Business School Administrative Salaries Table 6 shows mean, percent of change, median, 75 th and 25 th percentile salaries for administrative positions involving 12-month contracts. Table Month Administrative Salaries by Position ($ s in 000 s) Position 75% Median 25% Dean Associate Dean Assistant Dean Assistant Dean or Director: Development Assistant Dean or Director: Finance and Administration Assistant Dean or Director: Information Technology Accounting Department Chair School of Accounting, Director, etc Academic Department Chair Assistant Dean or Director: Undergraduate Programs Assistant Dean or Director: Graduate Programs Assistant Dean or Director: Career Services/Placement Director of Cooperative Programs Assistant Dean or Director: Executive Education Director of Internship MBA/Master s Admissions Director Assistant Dean or Director: MBA Programs Small Business Administration Director Director of Communications/Public Relations Executive MBA (EMBA) Director Director of Research Director of Distance Education Major Gifts Officer Director of Business Library Services Other Copyright AACSB International The Association to Advance Collegiate Schools of Business, December Page 6