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why business professors’ salaries are increasing

Brayden

Business professors’ salaries have experienced a sharp increase over the last couple of years.  One reason for the bump is that there simply aren’t enough qualified PhDs to fill the open positions. From an article by Terence Mitchell in the latest issue of Academy of Management Learning and Education:

A recent AACSB survey found that 400 schools wanted 1150 PhDs to fill positions and only about 1000 students received their degree.  Nemetz and Cameron (2006) report that PhD output has decreased about 20% the last 10 years and that 30% of our faculty are over 55, suggesting that demand will continue to increase while supply dwindles. She summarizes the situation by saying “too much need, not enough product” (2005a: 38). Pfeffer and Fong (2002) summarize by saying the “shortage of business school faculty is severe and growing” (2002: 90) while Wyer and Blood (2006: 102) have “grave concerns over the availability of qualified business faculty.”

On top of the shortage of PhDs, Mitchell is concerned that the training most PhDs get in business schools is not adequate for the kind of teaching and research that will be expected of them.  Top business schools focus more on MBA and undergrad education than PhD training.  Prestige comes from the MBA program, not from doctoral programs.  Many PhD programs are small and underutilized.  Mitchell makes suggestions as to how business school PhD programs can improve their training of PhDs and better socialize them to enter the world of academia.

The situation of business school PhDs seems the opposite that most PhDs face in sociology.  In sociology we produce too many PhDs.  Top sociology programs put a great deal of resources in their PhD programs and take pride in the socialization process.  Our prestige comes from training good PhDs that will get publications in top journals. Our PhDs are ready and willing to enter academia, only to find that there aren’t enough jobs out there that take advantage of their advanced skills.

Written by brayden king

June 14, 2007 at 8:07 pm

Posted in academia, brayden, education

4 Responses

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  1. Is it any wonder that org studies seems to be moving into the b-schools?

    Follow up: any real evidence that there has been a migration to the b-schools?

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    Fabio Rojas

    June 14, 2007 at 9:11 pm

  2. Lots of anecdotal evidence, but I don’t know if there is anything systematic. The best way to tell would be to look at which colleges people publishing in ASQ are located (business or social sciences) and see if that has changed over time. If you only wanted to see how it has affected sociology, you might look at look at articles relating to organizations that were published in AJS or ASR.

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    brayden

    June 14, 2007 at 9:15 pm

  3. […] recently. This paper in the current issue of the Academy of Management Learning and Education (via Brayden) describes a shortage of qualified faculty in other business […]

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  4. it’s cause busy-ness is not a real academic discipline. yet it still requires intellegence. so a normal person who has the brainpower will want to study something cool like science or philosphy or history, and not be a shill for corporate america training the future stooges with no souls.

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    alex

    May 16, 2008 at 8:07 am


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