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NEWSLINE - Winter 1998
New Faculty Hiring Up 17.8 Percent; Salaries Up Slightly
Results of AACSB’s 1997-98 Salary Survey show that new faculty hiring
overall this year is up by 17.8 percent following a two-year slump. Hiring of new
assistant professors rose 26.5 percent compared to a 0.6 percent drop last year, while
hiring of instructors rose 14.7 percent following a 14.9 percent decrease. ABDs also were
up by 14.3 percent compared to the 33.3 plunge experienced last year.
Hiring of new professors, down by 15.7 percent last year, remained at the same level
with no increase or decrease. New doctorates were up 15.7 percent and associate professors
rose 12.3 percent. Last year, new doctorates experienced a 10.7 percent decrease while
associate professors experienced no increase or decrease since a 9.5 percent decrease in
1995.
Business faculty salaries overall averaged 4.9 percent increase this year, up slightly
from 4.3 percent a year ago. Average nine-month salaries for all faculty rose from $67,700
last year to $71,000 this year. Pay increases averaged 5.3 percent for full professors, to
$85,800, 4.8 percent for associate professors, to $67,500, 5.9 percent for assistant
professors, to $62,700, and 5.1 percent for instructors, to $41,500. New doctorates
experienced a 4.0 percent pay increase, to $64,400. Last year, new doctorates had fared
the worst, garnering only a 2.3 percent gain, to $61,900.
The annual survey is the 30th such survey conducted by AACSB. There were 417
schools that voluntarily participated in the survey, which includes data on 20,615 faculty
members and 3,136 administrators. For the first time, participating schools were able to
complete and submit their data electronically; over one-half of responding schools chose
to do so.
All AACSB educational member representatives received a copy of the survey in January.
Additional copies are available for $25 by contacting AACSB.
Summary of 1997-98 AACSB Salary Survey Results
1997-98 Business Faculty Salaries By Discipline
| |
Professor |
| |
Mean $
in 000s |
% increase
over 1996 |
New hire
1997-98 |
Difference
(new hire
minus mean) |
| Accounting/Taxation |
88.1 |
5.1 |
125.9* |
37.8* |
| CIS/MIS |
82.2 |
7.0 |
98.9* |
16.7* |
| Finance/Banking/Real Estate/Insurance |
96.6 |
6.6 |
110.7 |
14.1 |
Management/Behavioral Science/
International Business/Strategic Management |
87.5 |
5.2 |
101.0 |
13.5 |
| Marketing |
86.2 |
8.7 |
97.9 |
31.7 |
| Production/Operations Management |
89.9 |
6.8 |
137.4* |
47.5* |
Quantitative Methods/Operations Research/
Statistics |
84.7 |
4.1 |
112.8* |
28.1* |
| Combined (all disciplinesincluding those not named above) |
85.8 |
5.3 |
106.6* |
20.8* |
*Data may be biased due to a limited number of responses. |
| |
Associate Professor |
| |
Mean $
in 000s |
% increase
over 1996 |
New hire
1997-98 |
Difference
(new hire
minus mean) |
| Accounting/Taxation |
70.8 |
5.2 |
75.3 |
4.5 |
| CIS/MIS |
67.6 |
5.8 |
68.7 |
1.1 |
| Finance/Banking/Real Estate/Insurance |
74.1 |
5.0 |
82.1 |
8.0 |
Management/Behavioral Science/
International Business/Strategic Management |
67.7 |
4.8 |
70.1 |
2.4 |
| Marketing |
68.5 |
4.6 |
71.0 |
2.5 |
| Production/Operations Management |
69.3 |
2.7 |
56.1* |
(13.2)* |
| Quantitative Methods/Operations Research/Statistics |
66.0 |
5.9 |
58.5* |
(7.5)* |
| Combined (all disciplinesincluding those not named above) |
67.5 |
4.8 |
71.7 |
4.2 |
*Data may be biased due to a limited number of responses. |
| |
Assistant Professor |
New Doctorate |
| |
Mean $
in 000s |
% increase
over 1996 |
New hire
1997-98 |
Difference
(new hire
minus mean) |
Mean $
in 000s |
% increase
over 1996 |
| Accounting/Taxation |
65.5 |
5.6 |
66.7 |
1.2 |
71.1 |
8.2 |
| CIS/MIS |
60.4 |
4.7 |
63.7 |
3.3 |
63.0 |
1.9 |
| Finance/Banking/Real Estate/Insurance |
71.0 |
7.3 |
70.8 |
(0.2) |
76.1 |
5.7 |
Management/Behavioral Science/
International Business/Strategic Management |
63.0 |
6.6 |
62.5 |
(0.5) |
63.9 |
10.4 |
| Marketing |
63.4 |
5.3 |
64.5 |
1.1 |
63.6 |
(0.6) |
| Production/Operations Management |
66.4 |
5.1 |
64.7 |
(1.7) |
65.9 |
(0.4) |
| Quantitative Methods/Operations Research/Statistics |
60.2 |
6.5 |
64.4 |
4.2 |
57.4 |
(1.3) |
| Combined (all disciplines including those not named above) |
62.7 |
5.9 |
63.5 |
0.8 |
64.4 |
4.0 |
|
1997-98 Business Salaries For Administrative
Personnel
| |
Dean |
Associate Dean |
Assistant Dean |
| |
Mean $
in 000s |
% increase
over 1995 |
Mean $
in 000s |
% increase
over 1996 |
Mean $
in 000s |
% increase
over 19956 |
| Public |
117.1 |
5.9 |
100.7 |
3.5 |
69.8 |
4.0 |
| Private |
129.0 |
5.9 |
103.0 |
5.5 |
75.8 |
10.8 |
| Accredited |
130.3 |
3.6 |
104.3 |
2.4 |
73.4 |
3.8 |
| Non-Accredited |
96.6 |
5.2 |
80.6 |
7.0 |
62.0 |
12.3 |
|
| |
School of Accounting
Directors and Administrators |
Accounting and Academic
Department Chairs |
| |
Mean $
in 000s |
% increase
over 1996 |
Mean $
in 000s |
% increase
over 1996 |
| Public |
109.4 |
6.5 |
87.7 |
5.7 |
| Private |
100.7 |
11.3 |
89.7 |
5.0 |
| Accredited |
109.7 |
6.7 |
92.3 |
4.2 |
| Non-Accredited |
83.0 |
3.0 |
69.9 |
5.5 |
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