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Salaries by Rank and Discipline Count Salary and Hiring Trends by Jessica Brown Salaries and hiring rates for busi- ness school faculty continue to hold at a slower pace as the economy enters its third year in a recession, but administrators are still finding room in the budget for small raises. In fact, the 2009–2010 academic year was a slight improvement over 2008–2009. Last year, the average full-time faculty nine-month salary across all ranks and fields increased 2.6 percent to $113,996 from $111,084, compared to a 1.7 percent in 2008–2009. The typi- cal annual increase in average salary increase is 3 percent to 4 percent. In other areas, the news wasn't as good. A smaller number of schools reported hiring new faculty over the last two years than in past surveys. In addition, the percentage of full-time faculty classified as "new hires" also decreased. The percentage of schools with new hires peaked at 91.9 percent in 2007–2008, with the percentage of faculty reported as new hires hitting 8.4 percent. In 2008–2009, those numbers remained fairly steady, at 90.9 percent and 9.4 percent, respectively. The past two years have been a different story. The percentage of schools reporting new hires decreased to 84.9 percent in 2009–2010, with only 7 percent of total faculty members reported as new. In 2010–2011, those numbers decreased to 83 percent and 6.7 per- cent respectively. What does the future hold? According to AACSB Chief Knowledge Officer Dan LeClair, "Athough we've seen an increase in doctoral degree production world- wide, increasing international recruitment and upcom- ing retirements, as well as pent-up demand, will likely return hiring and salary growth to pre-recession levels." Jessica Brown is a senior manager in the Knowledge Services area at AACSB International in Tampa, Florida. 1561 752 1146 1532 1684 1252 415 401 1147 9890 Count 1412 896 797 1153 1476 1084 336 269 1078 8501 Count 1364 585 843 1260 1531 1208 264 215 1009 8279 *Faculty are reported as Academically Qualified (AQ) or Professionally Qualified (PQ). These percentages do not add up to 100 because chart does not display num- bers for faculty reported as "Neither" or "Unknown." For more information on how AQ/PQ is determined, visit www.aacsb.edu/accreditation/business/standards/. **Similar and related disciplines have been combined into larger categories: Account- ing includes taxation; economics includes managerial economics; finance includes banking, real estate, and insurance; management includes behavioral science, organiza- tional behavior, international business, and strategic management; production includes operations management; and quantitative methods includes operations research and statistics. "Other" includes education, law, healthcare, hospitality, public adminis- tration, supply chain, communication, ethics, entrepreneurship, human resources, e-business, and general business. †New doctorates are classified as newly hired faculty who have been hired in the most recent year and have received their doctoral degrees in the last three years. These are counted separately from other new hires. 40 BizEd MARCH/APRIL 2011 Count 54 15 51 51 44 47 13 4 33 312 Tenure Track 91.0% 91.9% 93.1% 91.9% 89.5% 91.9% 92.8% 94.5% 88.0% 91.2% Tenure Track 93.7% 93.6% 93.4% 92.5% 90.5% 91.8% 91.1% 91.5% 85.4% 91.5% Tenure Track 90.3% 84.5% 88.2% 90.0% 88.3% 90.1% 93.2% 76.7% 80.0% 87.7% Tenure Track 96.3% 100.0% 82.4% 96.1% 93.2% 93.6% 69.2% 100.0% 90.9% 91.7% AQ* 90.6% 93.9% 91.4% 94.1% 92.1% 94.3% 95.9% 97.3% 89.8% 92.6% AQ 86.4% 91.7% 90.7% 91.1% 92.3% 90.2% 91.4% 89.2% 83.8% 89.5% AQ 86.2% 91.7% 90.7% 91.1% 92.0% 90.2% 91.4% 90.1% 83.6% 89.4% AQ 100.0% 100.0% 98.0% 98.0% 100.0% 97.9% 100.0% 100.0% 97.0% 98.7% PQ 5.5% 2.9% 3.0% 3.6% 4.2% 3.1% 0.7% 2.0% 5.7% 3.9% PQ 8.4% 3.3% 3.3% 4.3% 3.4% 2.9% 3.6% 2.2% 9.8% 5.0% PQ 8.4% 3.3% 3.3% 4.3% 3.6% 2.9% 3.6% 1.9% 10.0% 5.1% PQ 0.0% 0.0% 0.0% 2.0% 0.0% 2.1% 0.0% 0.0% 0.0% 0.6% New Doctorate† Assistant Professor Associate Professor Professor