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Mean Salaries by Rank and Gender ($'s in 000's) Field/Discipline Professor Associate Professor Assistant Professor Instructor New Doctorates Male 108.2 84.7 82.9 52.8 89.2 All But Dissertation (ABD) 76.1 Distribution of New Hires Across Fields/Disciplines Field/Discipline Accounting/Taxation CIS/MIS Economics/ Managerial Economics Finance/Banking/ Science/International Business/Strategic Management Marketing Production/Operations Management Quantitative Methods/ Operations Research/ Statistics Other Percent Percent Percent 1996 18.2 11.1 9.1 Real Estate/Insurance Management/Behavioral 15.2 15.8 13.7 4.3 2.8 9.8 2001 15.2 18.8 8.3 14.7 16.1 12.5 2.6 2.7 9.2 2002 14.7 16.7 8.0 14.6 17.2 13.3 2.4 2.7 9.4 commands one-and-a-half times the salary and benefits of the retiring faculty member—a number that doesn't include search costs. For schools looking at a high volume of upcom- ing retirements, the costs are almost certain to be significant. Gender Issues. Noticeable disparities exist between male and Female All 97.6 81.9 78.8 46.9 86.3 77.4 106.8 84.0 81.6 50.4 88.2 76.6 $90,900. At a nonaccredited school, that number is $65,600. A new finance professor at an accredited school earns, on average, $105,500; at a nonaccredited school, the average salary falls to $72,700. Salaries are also higher in accredited private schools accredited school is be viewed as aggregates drawn from widely differing institutions that may not have much more in common than the fact that they offer business degrees. Almost every school will deviate from these averages because of vari- ances in geographic location, student body makeup, size of the institution, size of the program, mis- sion, and all the other elements that make a school A professor at a small nonaccredited col- lege usually will not expect to earn the same salary as a professor at an interna- tionally ranked school, and some of those schools are part of this database. In addition, information presented here is unique. than in public schools. Again using the new finance profes- sor as an example, the average new doctorate makes $114,300 at an accredited private school. At a public accred- ited school, the new doctorate average salary is $102,200. Caveats. The numbers compiled in this study should based on nine-month academic year salaries and does not include various incentives that might enhance a professor's total compensation, such as signing bonuses and research support. The survey also doesn't reflect actual teaching loads, which may vary as teachers are offered lighter teaching loads to make certain positions more attractive. While the salary survey data provide a general overview ments. For example, the survey gathered data about salary differences between schools accredited by AACSB and those that are not, as well as between public and private schools. For new doctorates across all fields, the average salary at an female faculty professors, with men earning more than women at every rank. The gap is greatest at the highest levels, where male full professors earn $108,200 on average, compared to female full professors, who average $97,600. The gap is much smaller at the entry level ranks. New female doctorates earn an average of $86,300 to the $89,200 earned by men. Without further study and evidence, it's impossible to determine whether or not the gender gap may be closing. Other Factors. Faculty salaries also are affected by other ele- and describe trends, views of the world can be inconsistent. At the same time opportunity knocks for talented business faculty in certain fields, administrators and recruiters are squeezed by escalating salaries and shrinking budgets. Regardless of one's perspective, staying informed is a key The AACSB International Salary Survey AACSB member schools that provide data can acquire custom reports based on the salary survey. The reports, which include comparisons with schools selected by customers, can be created and purchased online; reports generally can be delivered within minutes via e-mail. The complete salary survey report can be purchased from AACSB at www.aacsb.edu/knowledgeservices. tool in planning, negotiating, and budgeting. ■ BizEd MARCH/APRIL 2003 z 45