By Sari Wakefield, Manager, Digital Communications, AACSB International
Everyone is discussing entrepreneurship these days. Whether its prospective business students that dream of becoming the next Zuckerberg or seasoned professionals that want to break away from the everyday corporate world, the demand for entrepreneurship knowledge is growing globally. Even in areas where entrepreneurship is traditionally not pursued, there is an increasing interest due to poor employment conditions and failing economies. For instance, a recent survey by Bayt.com (a Middle Eastern employment website) found that there is an increasing growth in awareness and interest in entrepreneurship—particularly in countries such as the UAE, Oman, and Kuwait1. In Greece, the hope is that if "trust comes back to Greek entrepreneurs and in particular to many small and medium enterprises in this country, Greece will be able to get out of the crisis," according to Antonio Tajani, the European Commission vice president in charge of industry and entrepreneurship2.
This increased interest has created a demand for entrepreneurship programs. In fact, at all program levels (undergraduate, master's, and doctoral alike) AACSB data has shown growth in the number of entrepreneurship offerings since 2006. Additionally, most recent data from 2010–2011 continues to indicate this increasing number of offerings.
2006–2007 Entrepreneurship Programs Offered
2010–2011 Entrepreneurship Programs Offered
(Source: 2006–2011. AACSB International. Business School Questionnaire.)
Along with the increase in programs, entrepreneurship faculty also are receiving higher salaries. Compensation for full, associate, and assistant professors has increased since 2002. For instance, in 2002–2003, AACSB data from 73 schools with 98 entrepreneurship professor positions showed that the average annual salary was 100,300 USD. From 2006–2007 data, 90 schools with 120 entrepreneurship professor positions displayed an increase in average annual salaries to 128,300 USD. Today, the average salary for entrepreneurship professors is 150,300 (among 117 schools reporting with 157 positions). The chart below outlines salary data for faculty from 2002–2003 to 2011–2012.
2002–2003 to 2011–2012 Entrepreneurship Faculty Salaries
(Source: 2002–2012. AACSB International. Global Salary Survey.)
1. (2012, March 25). "Higher Interest in Entrepreneurship and Social Development in MENA Despite Arab Spring, Reveals Survey." Business Intelligence, Middle East.
2. (2012). European Commission. "Tajani: EU Assistance for Small Enterprises in Greece."