Results of AACSB's 1996-97 Salary Survey show that new faculty hiring overall this year is down by 9.9 percent, a decline more severe than the 3.9 percent drop reported last year. Hiring of new assistant professors dropped 0.6 percent, compared to a 16.5 percent plunge last year, while hiring of instructors dropped by 14.9 percent. Last year hiring of instructors was up by 24.6 percent, ABDs were down by 33.3 percent.

Hiring of new professors decreased again this year by 15.7 percent. New doctorates were down 10.7 percent. Last year, professors and new doctorates experienced a 4.6 percent and 3.6 percent decrease, respectively. Associate professors, down by 9.5 percent last year, remained at the same level with no increase or decrease.

Business faculty salaries overall averaged a 4.3 percent increase this year, up slightly from 3.8 percent a year ago. Average nine-month salaries for all faculty rose from $64,900 last year to $67,700 this year. Pay increases averaged 3.7 percent for full professors, to $81,500, 3.9 percent for associate professors, to $64,400, 3.1 percent for assistant professors, to $59,200, and 5.6 percent for instructors, to $39,500.

Salary-wise, new doctorates fared the worst this year, experiencing a 2.3 percent pay increase, to $61,900. Last year, new doctorates had fared the best, garnering a 5.6 percent gain, to $60,500. Salaries for new doctorates in accounting fell 2.7 percent from last year, to $65,700. Salaries for new doctorates in production/operations management rose 6.1 percent from last year, to $66,200 indicating continued strong demand. Salaries for new doctorates in quantitative methods/operations research/statistics rose 10.9 percent from last year, to $58,200.

The annual survey is the 29th such survey conducted by AACSB. There were 451 member schools that voluntarily participated in the survey, which includes data on 22,035 faculty members and 3,342 administrators.

All AACSB educational member representatives received a copy of the survey in December. Additional copies are available for $25 by contacting AACSB.